January incomes up 1.0 pct, core prices up 0.3 pct
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U.S. incomes rose much more sharply than expected in January, while spending and core consumer price growth also outpaced forecasts, a government report showed on Thursday.
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U.S. consumer prices rose an as-expected 0.2 percent last month, a government report showed on Tuesday, but a sharp jump in lodging costs helped push so-called core inflation up at its fastest pace in five months.
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Inflation rose to an annual rate of 2.2 percent in January, compared with 2.1 percent in December, official data showed on Tuesday.
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Payments to Social Security recipients and most federal retirees will increase 2.3 percent in January. It is the smallest cost-of-living adjustment since 2003, reflecting a lower rate of inflation.
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U.S. incomes rose much more sharply  than expected in January, while spending and core consumer  price growth also outpaced forecasts, according to a government  report on Thursday that could heighten inflation concerns at  the Federal Reserve.
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U.S. incomes rose much more sharply than expected in January, while spending and core consumer price growth also outpaced forecasts, according to a government report on Thursday that could heighten inflation concerns at the Federal Reserve.
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The pace of growth in the U.S. service sector improved in January, prompted by steady new orders and a decline in prices paid by service companies, according to a report released on Monday.
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The minister of economic and fiscal policy, Hiroko Ota, said there had been little change in price trends in January, after a report showed inflation slowed to zero percent for the first time since May. âPrices continue to be flat,â Ms. Ota said. Core consumer prices, which exclude fresh food, were unchanged from a year earlier, matching the median estimate of economists surveyed by Bloomberg News. Household spending climbed 0.6 percent in January, the statistics bureau said, the first increase since December 2005. Economists expected a 0.3 percent drop. The jobless rate was 4 percent, unchanged after the previous monthâs figure was revised from 4.1 percent, the agency said.
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US personal incomes rose 1.5 percent in the second quarter of 2004, the fastest pace of growth in more than three years as income gains sped up in 33 states, the Commerce Department said on Tuesday.
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Retail sales rose a sluggish 0.1 percent in February amid unusually cold weather, and late mortgage payments and home foreclosures rose at the end of last year, according to reports that raised concerns about the economic outlook.
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Inflation at the consumer level rose by a larger-than-expected amount in January as falling energy prices only partially offset big increases in the cost of medical care, food and airline tickets.
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The Commerce Department says personal spending was flat, while incomes surged four-tenths of one percent, marking the biggest increase in three months.
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U.S. consumer prices inched up just  0.1 percent last month as gasoline and car prices tumbled, the  government said on Thursday in a report suggesting an inflation  spike earlier this year was an aberration.
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Stocks rallied for the third day in a row as investors embraced the first positive economic news in weeks: an unexpected 0.3 percent climb in retail sales in January.
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House prices rose by 0.3% in January, the Nationwide says, their slowest pace for eight months.
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Rising food costs helped push consumer prices up for a second straight month in January by 0.4 percent, more than offsetting a moderation in energy price rises as inflation showed signs of gaining steam, according to a Labor Department report on Wednesday.
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WASHINGTON : Healthy wage growth boosted US personal incomes by 0.4 percent in August, but consumer spending was flat for the month, the Commerce Department said.