Frederic J. BROWN / AFP via Getty Images Core PCE inflation is expected to decelerate to its lowest annual increase since June, providing hope that inflation is settling down to pre-pandemic levels.

The core PCE Price Index, which excludes volatile food and energy prices, increased 2.6% on a yearly basis in January, down from 2.9% in December. This print came in line with the market expectations.

The core personal consumption expenditures price index — which excludes often-volatile food and energy costs — probably rose 2.6% in the year through January in Commerce Department data due on ...