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.