A report released by the Commerce Department on Monday showed personal income in the U.S. rose by slightly less than expected in the month of September, although the report also showed personal spending increased in line with estimates.
The report said personal income edged up by 0.2 percent in September after climbing by an upwardly revised 0.4 percent in August.
Economists had expected income to rise by 0.3 percent, matching the increase originally reported for the previous month.
Meanwhile, the Commerce Department said personal spending rose by 0.4 percent in September after increasing by an upwardly revised 0.5 percent in August.
Spending had been expected to advance by 0.4 percent following the 0.3 percent growth originally reported for the previous month.
The report also said a reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth held at 2.0 percent for the fifth straight month.