The personal consumption expenditures price index excluding food and energy was expected to rise 0.4% in February.
Price growth will likely stay higher this year, and the Federal Reserve is poised to continue to hike interest rates.
The consumer price index was expected to increase 0.4% in January from a month ago and 6.2% on an annual basis, according to Dow Jones.
Egg prices soared to historic levels in 2022, and one farmer-led advocacy group is alleging the trend is due to price fixing by leading producers.
The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago.
Both futures have since pared gains, with Brent crude last trading at $86.12 a barrel, and U.S. West Texas Intermediate futures at $80.53 per barrel.
The core personal consumption expenditures price index increased 0.5% from the previous month and accelerated 5.1% over the past 12 months.
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