US personal income rose 0.6% mom or USD 131.1B in January, below expectation of 1.0% mom. But personal spending rose 1.8% mom or USD 312.5B, above expectation of 1.0% mom.
For the month, PCE price index rose 0.6% mom, above expectation of 0.5% mom. Core PCE (excluding food and energy) rose 0.6% mom, above expectation of 0.4% mom. Prices for goods and services rose 0.6% mom. Food prices rose 0.4% mom. Energy prices rose 2.0% mom.
For the year, PCE price index accelerated from 5.3% yoy to 5.4% yoy, above expectation of 4.9% yoy. Core PCE accelerated from 4.6% yoy to 4.7% yoy, above expectation of 4.1% yoy. Goods prices rose 4.7% yoy. Services rose 5.7% yoy. Food rose 11.1% yoy and energy rose 9.6% yoy.
