US personal income, spending up in February

ANKARA

US personal income and spending rose in February, according to the data released Thursday.

Personal income increased $101.5 billion, or 0.5%, from the previous month, after rising 0.1% in January.

Personal spending increased $34.9 billion, or 0.2%. The January figure was revised up to 2.7%, from 2.1%.

The personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation indicator, increased 0.6% last month. Core PCE price index, excluding food and energy, rose 0.4%.

On an annual basis, the PCE price index soared 6.4%, while the core PCE price index gained 5.4% year-on-year.