Personal income and spending in the US rose in January, coming in higher than the market estimates.
Source: Bureau of Economic Analysis.
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In January, personal income rose by $9 billion, less than 0.1%, the prior month, after rising 0.4% in December 2020. The market estimated a 1.5% gain.
In December 2020, personal spending dropped 0.8%.
The personal consumer expenditures (PCE) price index, rose by 0.6% in January. The core PCE price index, excluding food and energy, rose 0.5% from the prior month.
In January, the PCE price index jumped 6.1% year-on-year, the biggest jump since February 1982.
The core PCE price index rose 5.2% annually, the largest yearly increase since April 1983.