- The July reading was +0.4%
- Personal income +0.1% vs +0.2% exp and prior revised lower to 0.1% from 0.3%
- Core PCE index +0.1% m/m, as expected
- Core prices up 1.5% y/y vs 1.3% in July
Close to expectations on all fronts. One exception on the income side, which was soft and knocked the savings rate to 3.7% from 4.1%. That’s a limit on future consumption.
