Personal Income Rose 0.2% in December, Spending Declined 0.2%

Washington, DC, January 27, 2023-Personal income increased $49.5 billion (0.2%) in December, according to estimates by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $49.2 billion (0.3%), and personal consumption expenditures (PCE) decreased $41.6 billion (0.2%).

The PCE price index increased 0.1%. Excluding food and energy, the PCE price index increased 0.3%. Real DPI increased 0.2% in December, and Real PCE decreased 0.3%; goods decreased 0.9%, and services were unchanged.