Consumer Spending Barely Moves Despite Jump in Income: Deflationary Headwinds?


Today’s personal income and outlays report shows consumer spending rose 0.1% while income rose 0.4%. Prices fell 0.1% while core prices rose 0.1%.

The above spending and price numbers are in line with Econoday estimates. Income beat the consensus estimate of 0.3%.

Year-over-year, prices are up 1.4% vs. estimates of 1.5%. The Fed will not be happy with this development.

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