The U.S. Bureau of Economic Analysis (BEA) reported on Friday (5-27-22) that according to their estimates, personal income (PI) increased $89.3 billion, or 0.4%, in April. Disposable personal income (DPI) increased $48.3 billion, or 0.3%, in April. Personal consumption expenditures (PCE) increased $152.3 billion, or 0.9%, in April.
Real DPI increased less than 0.1% in April, while Real PCE increased 0.7%; goods increased 1.0% and spending on services increased 0.5%. The PCE price index for April increased 0.2%. Excluding food and energy, the PCE price index for April increased 0.3%.
Year-over-year, the PCE price index for April increased 6.3%, reflecting increases in both goods and services. Energy prices increased 30.4% while food prices increased 10.4%. Excluding food and energy, the PCE price index for April increased 4.9% from one year ago.
Personal outlays increased $155.3 billion in April. Personal saving was $815.3 billion in April and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.4%.
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Personal Income and Outlays, April 2022