US personal income rose 0.2% mom, or USD 47.0B in July, below expectation of 0.6% mom. Spending rose 0.1% mom or USD 23.7B, also below expectation of 0.4% mom.
From the preceding month, PCE price index dropped -0.1% mom. prices for goods dropped -0.4% mom while prices for services rose 0.1% mom. Food prices rose 1.3% mom. Energy prices decreased -4.8% mom. PCE core, excluding food and energy, rose 0.1% mom.
Over the year, PCE price index rose 6.3% yoy, slowed from 6.8% yoy. Prices for goods rose 9.5% yoy while prices for services rose 4.6% yoy. Food prices rose 11.9% yoy. Energy prices rose 34.4% yoy. PCE core, excluding food and energy, rose 4.6% yoy, slowed from 4.8% yoy.
