Here comes personal income and spending ...

Buying ipod apple storeChris Hondros/Getty ImagesCash is so old school.

The January report on personal income and spending is set for release at 8:30 am ET.

Expectations are for personal income to rise 0.4% over the prior month with spending expected to decline 0.1%.

This report also includes the personal consumption expenditures deflator, a measure of inflation, which is expected to show prices declined 0.5% over last month and rise 0.1% on a “core” basis, which exclude the more volatile cost of food and energy.

We’ll be back with the live numbers when they hit.

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