Tuesday, August 02, 2016

Personal Income increased 0.2% in June, Spending increased 0.4%

by Calculated Risk on 8/02/2016 08:34:00 AM

The BEA released the Personal Income and Outlays report for June:

Personal income increased $29.3 billion (0.2 percent) in June according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $24.6 billion (0.2 percent) and personal consumption expenditures (PCE) increased $53.0 billion (0.4 percent).
Real PCE increased 0.3 percent. ... The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent.
On inflation: The PCE price index increased 0.9 percent year-over-year partially due to the sharp decline in oil prices. The core PCE price index (excluding food and energy) increased 1.6 percent year-over-year in June (same as in May).