(RTTNews) - Personal income in the U.S. increased in line with economist estimates in the month of May, according to a report released by the Commerce Department on Thursday. The report showed personal spending rose by 0.5 percent in May, matching the revised increase seen in April as well as expectations. A reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth slowed to 4.7 percent in May from 4.9 percent in April.