Washington, DC, May 27--Personal income rose 0.7% in April, while consumer spending rose 0.6%, according to the Commerce Department.
When adjusted for inflation, personal spending rose only 0.2%. Real disposable income, meanwhile, rose 0.1%.
Inflation rose 0.4% as gasoline prices jumped. Core inflation, excluding food and energy prices, climbed 0.1%. Core prices have increased 1.6% on a year-over-year basis, down from 1.7% in March.
Economists expected personal income to rise 0.7% and spending to rise 0.8%.
In March, incomes rose 0.5% while spending increased 0.9%. Spending was revised up from 0.6%.
The personal savings rate for April rose 0.4%, which was the smallest rate since October 2001.
Real spending on durable goods rose 0.8%, while real spending on nondurable goods climbed 0.2%. Real spending on services rose 0.1%.
Wages rose 0.7% in April, while proprietors' income rose 0.9%. Income on assets rose 0.4%.
This month's data contains an upward revision to wages and salaries for October through March. Through March, wages were revised up a total of 0.9%.
