US personal income, spending rise in March

Core PCE price index, Fed's preferred inflation indicator, increases 5.2% on annual basis

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%.

Kaynak:

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