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According to the Bureau of Economic Analysis, personal income increased 0.4 percent in January, the same increase as in December. Wages and salaries, the largest component of personal income, increased 0.5 percent in January after increasing 0.4 percent in December.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.9 percent in January after increasing 0.4 percent in December.

Real DPI, income adjusted for taxes and inflation, increased 0.6 percent in January after increasing 0.2 percent in December.

Real consumer spending (PCE), spending adjusted for price changes, decreased 0.1 percent in January after increasing 0.2 percent in December. Spending on durable goods decreased 1.6 percent in January after increasing 0.6 percent in December.

PCE prices increased 0.4 percent in January after increasing 0.1 percent in December. Excluding food and energy, PCE prices increased 0.3 percent in January after increasing 0.2 percent in December.

For more information, read the full report.