In July, US personal income rose 0.1%, below expectation of 0.3%. Spending grew 0.6%, above expectation of 0.5%. The increase in personal income in July primarily reflected increases in compensation of employees and government social benefits to persons that were partially offset by a decrease in personal interest income. Headline PCE inflation rose to 1.4% yoy, matched expectations. Core PCE inflation was unchanged at 1.6% yoy, matched expectations.
