US personal income rose 0.4% mom, or USD 91.2B, matched expectations. Personal spending rose 0.1% mom, or USD 18.9B, below expectation of 0.2% mom.
Headline PCE price index rose 0.1% mom, below expectation of 0.5% mom. PCE core (excluding food and energy) rose 0.3% mom, below expectation of 0.4% mom. Goods prices fell -0.4% mom while services price rose 0.2% mom. Food prices rose 0.1% mom. Energy prices fell -3.9% mom.
From the same month one year ago, headline PCE price index slowed from 4.3% yoy to 3.8% yoy, below expectation of 4.6% yoy. PCE core (excluding food and energy) ticked down from 4.7% yoy to 4.6% yoy, matched expectations. Goods prices rose 1.1% yoy while services prices jumped 5.3% yoy. Food prices rose 5.8% yoy and energy prices decreased -13.4% yoy.
