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January US PCE Prices Rise as Expected; Income Surges, Spending Growth Slows

Thursday, 29 February 2024 21:00 WIB Ekonomi AS CORE PCE Core PCE Price Index m/m Personal Spending m/m

Personal income rose by 1% in January following December's 0.3% gain, much faster than the expected 0.4% gain in a survey conducted by Bloomberg as of 7:35 am ET. The sharp rise in personal income was due to a 2.6% jump in current transfer receipts and a 1.6% gain in rental income, while wages and salaries rose by 0.4%. Personal consumption expenditures were up 0.2%, as expected, after a 0.7% gain in December. After adjustment for inflation, real PCE fell by 0.1% after a 0.6% increase in December, also as expected. The PCE price index increased by 0.3%, right on expectations, after a 0.1% gain. However, the year-over-year rate slowed to 2.4% from 2.6%. The core PCE price index...

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