US Personal Income and Outlays Increase in July
Personal Income and Outlays, July 2025
On Friday, the US Bureau of Economic Analysis (BEA) reported that personal income (PI) increased $112.3 billion, or 0.4%, at a monthly rate in July. Disposable personal income (DPI)—personal income less personal current taxes—rose $93.9 billion, or 0.4%. Personal consumption expenditures (PCE) increased $108.9 billion, or 0.5%.
Month-over-month, the PCE price index rose 0.2%. Excluding food and energy, the index increased 0.3%.
Year-over-year, the PCE price index increased 2.6% in July. Excluding food and energy, the index was up 2.9% from a year earlier.
Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—rose $110.9 billion. Personal saving was $985.6 billion, and the personal saving rate—personal saving as a percentage of DPI—stood at 4.4%.
The increase in current-dollar personal income primarily reflected higher compensation, BEA said.
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