Personal Income, Spending Up Slightly

Washington, DC, May 26, 2006--Personal incomes rose 0.5 percent in April, according to the Commerce Department. Personal spending for the month rose 0.6 percent. After adjusting for inflation, spending increased 0.1 percent for a second month. The gain reflected a 0.9 percent jump in wages and salaries, the largest since July 2005. Wages increased 0.5 percent in March and February. Core inflation rose 0.2% in April after a 0.3% gain in March. Core inflation rose 2.1% in the past 12 months, the fastest gain since March 2005.