US personal income rose 0.4 mom or USD 87.6B in August, matched expectations. Personal spending rose 0.4% mom or USD 83.6B, below expectation of 0.5% mom. That includes USD 47.0B increase in spending for services, and USD 36.7B increase in spending for goods.
For the month, headline PCE price index rose 0.4% mom, below expectation of 0.5% mom. Core PCE price index rose 0.1% mom, below expectation of 0.2% mom. Prices for goods increased 0.8% mom and prices for services increased 0.2% mom. Food prices increased 0.2% mom and energy prices increased 6.1% mom.
From the same month one year ago, headline PCE price index rose from 3.4% yoy to 3.5% yoy, matched expectations. Core PCE price index slowed from 4.3% yoy to 3.9% yoy, matched expectations. Prices for goods increased 0.7% yoy and prices for services increased 4.9% yoy. Food prices increased 3.1% yoy and energy prices decreased -3.6% yoy.
