US: Personal spending rises 0.5% in September, income up 0.3%

Personal spending rose 0.5% in September from a month earlier, the Commerce Department said on Monday. At the same time, personal income gained only 0.3%.

Expectations were for personal spending and income both to increase 0.4% in September. 

The personal consumption expenditures (PCE) price index, the Fed's preferred gauge of inflation, rose 0.2% in September from the prior month and 1.2% from a year earlier. That was the strongest annual pace since November 2014.