The US Bureau of Economic Analysis (BEA) reported on Friday (7-29-22) that, according to their estimates, personal income (PI) increased $133.5 billion, or 0.6%, in June. Disposable personal income (DPI) increased $120.4 billion, or 0.7%, in June. Personal consumption expenditures (PCE) increased $181.1 billion, or 1.1%, in June.
Real DPI decreased 0.3% in June, and Real PCE increased 0.1%; goods increased 0.1%, while spending on services increased 0.1%. The PCE price index for June increased 1.0%. Excluding food and energy, the PCE price index for June increased 0.6%.
Year-over-year the PCE price index for June increased 6.8%, reflecting prices for goods increasing 10.4% and the prices for service increasing 4.9%. Energy prices increased 43.5% in June, while food prices increased 11.2%. Excluding food and energy, the PCE price index for June increased 4.8% from June 2021.
Personal outlays increased $186.5 billion in June. Personal saving was $944.5 billion in June, and the personal saving rate—personal saving as a percentage of disposable personal income—was 5.1.%
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