(Bloomberg) -- The Federal Reserve's main inflation gauge is set to receive a boost from the rally in US stocks late last year, based on data published Friday.
Prices of portfolio management and investment advice jumped 5% in January, according to a monthly Bureau of Labor Statistics report on producer prices. That category — which is calculated using reported market returns — feeds directly into the US central bank's preferred inflation measure based on personal consumption expenditures, set to be published on Feb. 29.
Other categories that carry over into personal consumption expenditures gauge also rose in the producer-price data, including certain health-care services components.
Analysts raised their estimates for the so-called core PCE price index Friday after the release of producer price report. Citigroup Inc. now predicts a 0.38% increase in the measure, the bank's chief US economist, Andrew Hollenhorst, said in a note to clients. JPMorgan sees the index, which excludes food and energy, rising 0.47%, according to economist Daniel Silver.
Either estimate would mark the biggest monthly increase for core PCE since early last year.
Read More: US Producer Prices Increased by More Than Forecast in January
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