Personal Income Rose 0.3% in December, Spending Up 0.7%

Washington, DC, January 26, 2024-Personal income increased $60.0 billion (0.3% at a monthly rate) in December, according to estimates released by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $51.8 billion (0.3%), and personal consumption expenditures (PCE) increased $133.9 billion (0.7%).

The PCE price index increased 0.2%. Excluding food and energy, the PCE price index increased 0.2%. Real DPI increased 0.1% in December, and real PCE increased 0.5%; goods increased 1.1% and services increased 0.3%.