U.S. consumer spending was unchanged in January, personal income fell 2.3 percent, and the price index for consumer spending gained 0.2 percent, a government report showed Monday.
The Commerce Department said personal income fell 2.3 percent in January after hitting a record in December on a big dividend payout by Microsoft Corp. Excluding that one-time impact and other factors, personal income rose 0.5 percent in January compared with a 0.6 percent gain in December.
The price index for consumer spending, a measure of inflation, gained 0.2 percent in January and rose 0.3 percent when volatile food and energy prices were stripped out, a sharp pickup from December’s flat readings and the biggest monthly increase in core prices since October 2001.
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