US personal income rose 0.4% mom or USD 80.1B in November, above expectation of 0.2% mom. Spending rose 0.1% mom or USD 19.8B, below expectation of 0.2% mom.
For the month, PCE price index rose 0.1% mom while core PCE price (excluding food and energy) rose 0.2% mom. Prices for goods decreased -0.4% mom while prices for services increased 0.4% mom. Food prices rose 0.3% mom and energy prices dropped -1.5% mom.
From the same month a year ago, PCE price index slowed from 6.1% yoy to 5.5% yoy, above expectation of 5.3% yoy. Core PCE price index slowed form 5.0% yoy to 4.7% yoy, matched expectations. Prices for goods rose 6.1% yoy and prices for services increased 5.2% yoy. Food prices increased 11.2% yoy and energy prices increased 13.6% yoy.
