WASHINGTON -- Core U.S. consumer prices rose a less-than-expected 0.1 percent in June, showing stable prices that have eased the year-on-year rate of nonfood, nonenergy inflation to 1.9 percent, the lowest in more than three years, the Commerce Department said on Tuesday.
Analysts polled by Reuters were expecting the core price index to gain 0.2 percent on the month.
In the same report, the government said that, in seasonally adjusted data, personal income rose 0.4 percent while personal spending rose a less-than-forecast 0.1 percent, the weakest showing since a drop in spending in September of last year.
Analysts polled by Reuters were expecting personal income to gain 0.5 percent and personal spending to rise 0.2 percent.
Overall prices, as measured by the government's personal consumption expenditures index, also rose 0.1 percent.
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The last time the core PCE price index year-on-year rise was as low was a matching 1.9 percent rise in March 2004. May's year-on-year core PCE rise was revised to 2 percent.
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