Personal income rose less than expected while personal spending fell more than expected in January.

Income rose 0.3% in January while spending fell 0.2%.

Expectations were for personal income to rise 0.4% over the prior month with spending expected to decline 0.1%. 

This report also includes the personal consumption expenditures deflator, a measure of inflation, which showed that prices fell 0.5% in January and rose 0.2% on a "core" basis.

The deflator was expected to show prices declined 0.5% over last month and rise 0.1% on a "core" basis, which exclude the more volatile cost of food and energy. 

More to come ...

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