The U.S Commerce Department said today in Washington that personal income in the U.S rose 0.2 percent in January, short from the prior 0.5 percent in December, and personal outlays increased 0.2 percent, from a falt estimate in the end of 2011.

The Fed's favorite gauge of inflation, PCE Core rose 0.2 percent in January as forecasted, from a revised 0.1 percent gain in December, while for the year ened January, PCE Core stood at 1.9 percent, slightly up from 1.8 percent expected.