US personal income rose 0.3% mom or USD 72.9B in February, matched expectation. Personal spending rose 0.2% mom or USD 27.9B below expectation of 0.3% mom.
PCE price index rose 0.3% mom, above expectation of 0.2% mom. Core PCE price index, excluding food and energy, rose 0.3% mom, below expectation of 0.4% mom. Prices for goods increased 0.2% mom and prices for services increased 0.3% mom. Food prices increased 0.2% mom and energy prices decreased -0.4 mom.
From the same month one year ago, PCE price index slowed from 5.3% yoy to 5.0% yoy, below expectation of 5.3% yoy. Core PCE price index slowed from 4.7% yoy to 4.6% yoy, below expectation of 4.7% yoy.