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US personal income rose 10% in Jan, spending rose 2.4%

US personal income rose 10% mom, or USD 1954.7B in January, matched expectations. Spending rose 2.4% mom or USD 340.9B, well above expectation of 0.7% mom.

Headline PCE price index rose 0.3% mom, matched expectation. Core PCE rose 0.3% mom, above expectation of 0.1% mom. Annually, PCE price index accelerated to 1.5% yoy, up from 1.3% yoy, above expectation of 1.1% yoy. Core PCE price index rose to 1.5% yoy, up from 1.4% yoy, above expectation of 1.4% yoy.

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