By Tuba Sahin
ANKARA (AA) - US personal income and spending rose in March, according to data released on Friday.
In March, personal income grew $107.2 billion, or 0.5%, from a month ago, after rising 0.7% in February, the Commerce Department’s Bureau of Economic Analysis report showed.
Personal spending jumped $185.0 billion, or 1.1%, above the market estimate.
The personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation indicator, climbed 0.6% last month. Core PCE price index, excluding food and energy, rose 0.3%.
On an annual basis, the PCE price index surged 6.6%, while the core PCE price index went up 5.2%.