US personal income rose 0.3% mom or USD 77.8B in September, below expectation of 0.4%. Personal spending rose 0.7% mom or USD 138.7B, well above expectation of 0.4% mom.
PCE price index rose 0.4% mom, above expectation of 0.3% mom. Core PCE price index (excluding food and energy) rose 0.3% mom, matched expectations. Prices for goods increased 0.2% mom and prices for services increased 0.5% mom. Food prices increased 0.3% mom and energy prices increased 1.7% mom.
Annually, PCE price index was unchanged at 3.4% yoy, matched expectations. Core PCE price index slowed from 3.8% yoy to 3.7% yoy, matched expectations. Prices for goods increased 0.9% yoy and prices for services increased 4.7% yoy. Food prices increased 2.7% yoy and energy prices decreased by less than -0.1% yoy.
