According to a Commerce Department report released Friday, personal income fell 0.4% in May, while spending fell 0.1%, both coming below expectations. Core inflation rose 2.7% in the month. Read more on the latest inflation and spending numbers: cnb.cx/3TRqB3v | CNBC

CNBC’s Megan Cassella reports on the Commerce Department announcing investigations into the national security effects of pharmaceutical and semiconductor imports. Watch more: cnb.cx/3GanHmZ | CNBC

A key inflation measure was lower than expected in September, the Commerce Department said Friday in a report delayed by the government shutdown that gives a further green light for the Federal Reserve to lower interest rates. The core personal consumption expenditures price index, which excludes volatile food and energy prices, indicated a 0.2% monthly rise while the annual rate was 2.8%. Read more: cnb.cx/4azhmyD | CNBC