US Personal Income and Outlays for May
Personal Income and Outlays, May 2026
On Thursday, the US Bureau of Economic Analysis (BEA) reported that personal income (PI) rose $181.6 billion, or 0.7%, at a monthly rate in May. Disposable personal income (DPI)—personal income less personal current taxes—rose $164.9 billion, or 0.7%. Personal consumption expenditures (PCE) rose $156.1 billion, or 0.7%.
Month-over-month, the PCE price index rose 0.4%. Excluding food and energy, the index rose 0.3%.
Year-over-year, the PCE price index rose 4.1% in May. Core PCE (excluding food and energy) was up 3.4% from a year earlier.
Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—rose $159.9 billion in May. Personal saving was $704.2 billion, and the personal saving rate—personal saving as a percentage of DPI—was 3.0%.
The change in current-dollar personal income primarily reflected increases in farm proprietors’ income and compensation.
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