Personal Income Up 0.3%; Spending Increases 0.8%

WASHINGTON — Personal spending rose 0.8% in July and personal income rose 0.3% on a seasonally adjusted basis, the Commerce Department said Monday.

The core personal consumption expenditures deflator, month over month, rose 0.2%, but a 2.8% rise in energy prices put the overall increase in the PCE deflator at 0.4%.

Economists polled by Thomson Reuters expected a 0.3% rise in personal income, a 0.5% increase in consumption, and a 0.2% rise in the core PCE deflator.

Revised June data showed a 0.2% gain in income, a 0.1% decline in spending, and a 0.2% gain in the core deflator.

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