The crucial personal consumption expenditures (PCE) price index, also tracked by the Federal Reserve for its monetary policy decisions, is due for release. The U.S. Department of Commerce's Bureau of Economic Analysis is expected to report that the PCE price index likely rose 0.3% last month, following a similar increase in December. In the 12 months through January, PCE price index likely advanced 2.5%, following a 2.6% gain in December.
Barring volatile food and energy components, the so-called core PCE price index is projected to have risen 0.3% in January and 2.6% on an annualized basis. Moreover, data gauging consumer spending for January will be released. The consumer spending data is expected to show a 0.1% rise after seeing a jump of 0.7% in the month prior. Meanwhile, personal income likely rose 0.3% in the previous month.
In Latin America, Chile's jobless rate and manufacturing output data are on the radar. The jobless rate for January is forecast to be at 8.2%, up from 8.1% recorded in December. Manufacturing output likely rose 3.6% last month, after climbing 8.4% in December.
