Personal income increased $181.6 billion (0.7% at a monthly rate) in May, according to estimates released June 25 by the U.S. Bureau of Economic Analysis (BEA).
From the same month one year ago, the personal consumption expenditures (PCE) price index for May increased 4.1%. Excluding food and energy, the PCE price index increased 3.4% from one year ago.
Disposable personal income (DPI) – personal income less personal current taxes – increased $164.9 billion (0.7%), and PCE increased $156.1 billion (0.7%).
The $156.1 billion increase in current-dollar PCE in May reflected increases of $94.3 billion in spending on services and $61.8 billion in spending on goods.
From the preceding month, the PCE price index for May increased 0.4%. Excluding food and energy, the PCE price index increased 0.3%.
