Personal Income and Spending Both Rose 0.4% in August

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Personal Income and Spending Both Rose 0.4% in August

Washington, DC, September 29, 2023-Personal income increased $87.6 billion (0.4% at a monthly rate) in August, according to estimates released by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $46.6 billion (0.2%) and personal consumption expenditures (PCE) increased $83.6 billion (0.4%).

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