The personal income and expenditure report, which includes important inflation figures, showed figures above expectations. Personal income increased 21.1% in March, more than the 20.3% expected, and drove a rebound after falling 7% the previous month. It is the highest monthly increase in history and reflects the increase in the state’s social benefits.
The personal expense in March it rose 4.2%, just above the 4.1% expected, and implied an improvement after the 1% drop in February. It is the most important rise since June of last year.
The report highlights that the underlying price index of personal consumption expenditure, (core PCE), an important indicator of inflation, showed an annual increase of 1.8% in line with expectations, after registering an advance of 0.4% in the month.
At the same time it was known that the labor cost index in the first quarter it rose 0.9%, higher than the 0.7% expected.
The dollar it did not register major variations after the data. Treasury yields fell marginally. Later in the day, the April reading of the Chicago PMI and the confirmed consumer from the University of Michigan (final) will be released.
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