US personal income rose 0.2% mom or USD 49.5B in December, matched expectations. Spending dropped -0.2% mom or USD -41.6B.
PCE price index rose 0.1% mom while core PCE price index (excluding food and energy) rose 0.3% mom. Prices for goods was down -0.7% mom and prices for services up 0.5% mom. Foods prices rose 0.2% mom and energy prices dropped -5.1% mom.
From the same month one year ago, the PCE price index slowed from 5.5% yoy to 5.0% yoy. Excluding food and energy, core PCE price index slowed from 4.7% yoy to 4.4% yoy. Prices for goods rose 4.6% yoy, services up 5.2% yoy. Foods prices rose 11.2% yoy while energy prices rose 6.9% yoy.
