June personal income up, annual core inflation at 1.9%

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Personal income rose 0.4% in June following an unrevised 0.4% increase in May, the Commerce Department reported Tuesday.

The May personal income figure matched the median 0.4% increase projected by economists polled by IFR Markets.

June personal spending increased 0.4%, after rising a revised 0.5% gain the previous month. The May spending figure was originally reported as a 0.2% increase.

The June core PCE was up 0.1% after a 0.2% gain in May, year-over-year, core PCE rose 1.9%, same as in May, while the PCE was up 2.2% year-over-year.

Disposable personal income rose 0.4% in June, following a 0.4% increase in May.

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