Personal Income increased 0.6% in February, Spending increased 0.2%, Core PCE increase 0.2%

The BEA released the Personal Income and Outlays report for February:

Personal income increased $106.8 billion (0.6 percent) in February according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $88.7 billion (0.5 percent) and personal consumption expenditures (PCE) increased $27.7 billion (0.2 percent).

Real DPI inincreased 0.4 percent in February and Real PCE increased 0.1 percent. The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.2 percent

The February PCE price index increased 1.8 percent year-over-year and the February PCE price index, excluding food and energy, increased 1.8 percent year-over-year.

The increase in personal income was above expectations,  and the increase in PCE was below expectations.

Note that core PCE inflation was at expectations.

This was prior to the COVID-19 crisis.