US personal income rose 0.3% mom or USD 75.1B in July, above expectation of 0.2% mom. Spending rose 0.5% mom or USD 103.8b, matched expectations.
PCE price index rose 0.2% mom, while core PCE (excluding food and energy)rose 0.2% mom, both matched expectations. Prices for goods decreased by less than -0.1% and prices for services increased 0.2%. Food prices increased 0.2% and energy prices increased by less than 0.1%.
From the same month one year ago, PCE price index rose 2.5% yoy, unchanged from June’s reading, below expectation of 2.6% yoy Core PCE price index rose 2.6% yoy, unchanged from June’s reading, below expectation of 2.7% yoy. Prices for goods decreased by less than -0.1% and prices for services increased 3.7%. Food prices increased 1.4% and energy prices increased 1.9% .
