US incomes jump in July, prices slightly mixed

(Sharecast News) - Americans' incomes and spending grew briskly in July, while price pressures picked up a tad. According to the US Department of Commerce, personal incomes and spending rose at a month-on-month of 0.4% and 0.5%, respectively.

Both readings were in-line with economists' forecasts.

So too the 2.6% rate of increase in the headline price deflator for personal consumption expenditures.

At the core level however, the Fed's preferred price gauge, PCE inflation picked up by one tenth of a percentage point to 2.9% (consensus: 2.8%).

The personal rate of savings meanwhile was unchanged from the month before at 4.4%.

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