In May, Personal Income Rose 0.4%, Spending Up 0.1%

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In May, Personal Income Rose 0.4%, Spending Up 0.1%

Washington, DC, June 30, 2023-Personal income increased $91.2 billion (0.4% at a monthly rate) in May, according to estimates released by the Bureau of Economic Analysis.

Disposable personal income (DPI), personal income less personal current taxes, increased $86.7 billion (0.4%), and personal consumption expenditures (PCE) increased $18.9 billion (0.1%).

The PCE price index increased 0.1%. Excluding food and energy, the PCE price index increased 0.3%. Real DPI increased 0.3% in May, and real PCE decreased by less than 0.1%; goods decreased 0.4%, and services increased 0.2%.