US personal income and spending ease in April, core PCE prices slow

(Sharecast News) - Americans reined in their spending a tad during the previous month, even as price pressures ebbed a smidgen. According to the US Department of Commerce, in April personal income and spending rose at a month-on-month clip of 0.3% and 0.2%, respectively.

Economists had penciled in increases of 0.3% for both magnitude.

The headline price deflator for personal consumption expenditures meanwhile was up by 0.3% for a third consecutive time in month-on-month terms, as expected.

However, at the core level PCE price gains clocked in at 0.2%, this recording their slowest pace year-to-date.

Headline PCE inflation was up by 2.7% year-on-year in April and core PCE prices by 2.8%, with both unchanged from March, as expected by economists.

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