U.S. personal income increased 0.2 percent in September while inflation pressure remained stable, the U.S. Department of Commerce said on Monday.
According to the department, disposable personal income (DPI) in the United States increased 29.1 billion dollars in September, which is 0.2 percent higher than previous month.
Personal consumption expenditures (PCE) in the United States increased 53 billion dollars, which was 0.4 percent higher than the previous month, said the department.
The annual PCE price index, a preferred inflation gauge by the U.S. Federal Reserve, rose 2.0 percent in September, indicating that the inflation pressure remained stable.
Excluding the volatile food and energy prices, the annual core PCE price index also rose 2.0 percent in September, sticking around U.S. Fed's inflation target.
The U.S. Fed released its periodic report on U.S. economic conditions on Wednesday, confirming that prices continued to rise at a modest to moderate pace across the United States.
Richard Clarida, the U.S. Fed's new vice chair, on Thursday backed the central bank's plan to raise interest rates further as the risks that monetary policy must balance are "less skewed to the downside."
On Sept. 26, the Fed raised the target range for the federal funds rate to 2-2.25 percent. It is largely expected to hike once more before the end of this year.
According to the department, disposable personal income (DPI) in the United States increased 29.1 billion dollars in September, which is 0.2 percent higher than previous month.
Personal consumption expenditures (PCE) in the United States increased 53 billion dollars, which was 0.4 percent higher than the previous month, said the department.
The annual PCE price index, a preferred inflation gauge by the U.S. Federal Reserve, rose 2.0 percent in September, indicating that the inflation pressure remained stable.
Excluding the volatile food and energy prices, the annual core PCE price index also rose 2.0 percent in September, sticking around U.S. Fed's inflation target.
The U.S. Fed released its periodic report on U.S. economic conditions on Wednesday, confirming that prices continued to rise at a modest to moderate pace across the United States.
Richard Clarida, the U.S. Fed's new vice chair, on Thursday backed the central bank's plan to raise interest rates further as the risks that monetary policy must balance are "less skewed to the downside."
On Sept. 26, the Fed raised the target range for the federal funds rate to 2-2.25 percent. It is largely expected to hike once more before the end of this year.
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