Inflation, incomes and spending are all still growing - but slowly. According to the monthly report published yesterday by the Bureau of Economic Analysis, the Personal Consumption Expenditures (PCE) price index in September rose 0.1 percent on a monthly basis to match August's reading. On a yearly basis, PCE edged down to 2 percent from 2.2 percent. Meanwhile, core PCE, which strips volatile food and energy prices, increased 0.2 percent in September.
Meanwhile, the Commerce Department reported that income recorded its smallest gain in more than a year on moderate wage growth. All told, personal income increased $35.7 billion, or 0.2 percent, in September.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4 percent last month. The growth came as households bought more motor vehicles and spent more on health care. Personal consumption expenditures increased $53.0 billion for the month, or 0.4 percent.
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