Personal Income – Disposable Income – Personal Consumption Expenditures – All Increased in May 2022

Posted on June 30, 2022

The U.S. Bureau of Economic Analysis (BEA) reported on Thursday (6-30-22), that according to their estimates, personal income (PI) increased $113.4 billion, or 0.5% in May. Disposable personal income (DPI) increased $96.5 billion, or 0.5% in May. Personal consumption expenditures (PCE) increased $32.7 billion, or 0.2% in May.

Real DPI decreased 0.1% in May, and Real PCE decreased 0.4%; goods decreased 1.6%, while spending on services increased 0.3%. The PCE price index for May increased 0.6%. Excluding food and energy, the PCE price index for May increased 0.3%.

Year-over-year the PCE price index for May increased 6.3%, reflecting increases in both goods and services. Energy prices increased 35.8% while food prices increased 11.0%. Excluding food and energy, the PCE price index for May increased 4.7% from one year ago.

Personal outlays increased $38.3 billion in May. Personal saving was $1.01 trillion in May, and the personal saving rate—personal saving as a percentage of disposable personal income—was 5.4.%

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