Personal Income Rose 0.5% in May, Spending Up 0.2%

Washington, DC, June 28, 2024-Personal income increased $114.1 billion (0.5% 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 $94.0 billion (0.5%) and personal consumption expenditures (PCE) increased $47.8 billion (0.2%).

The PCE price index decreased less than 0.1%. Excluding food and energy, the PCE price index increased 0.1%. Real DPI increased 0.5% in May, and real PCE increased 0.3%; goods increased 0.6%, and services increased 0.1%.