US personal income rose 0.3% mom or USD 69.5B in June, below expectation of 0.5% mom. Spending rose 0.5% mom or USD 100.4B, above expectation of 0.4% mom.
PCE price index rose 0.2% mom, above expectation of -0.1% mom. Core PCE price index (excluding food and energy) also rose 0.2% mom, matched expectations. Prices for goods decreased -0.1% mom and prices for services increased 0.3% mom. Food prices decreased -0.1% mom and energy prices increased 0.6% mom.
From the same month one year ago, PCE price index slowed from 3.8% yoy to 3.0% yoy, below expectation of 3.1% yoy. Core PCE price index slowed from 4.6% yoy to 4.1% yoy, below expectation of 4.2% yoy. Goods prices were down -0.6% yoy while services prices were up 4.9% yoy. Food prices increased 4.6% yoy and energy prices decreased -18.9% yoy.
