Real Disposable Personal Income Declines in June

Personal income was unchanged in June after increasing 0.3 percent in May. Wages and Real Disposable Personal Income Aug1salaries, the largest component of personal income, increased 0.4 percent in June after increasing 0.1 percent in May.

Current-dollar disposable personal income (DPI), after-tax income, was unchanged in June after increasing 0.4 percent in May.

Real DPI, income adjusted for taxes and inflation, decreased 0.1 percent in June after increasing 0.5 percent in May that was largely attributable to an increase in personal dividend income.

Real consumer spending (PCE), spending adjusted for price changes, was unchanged in June after increasing 0.2 percent in May. Spending on durable goods decreased 0.1 percent in June after increasing 0.2 percent in May.

PCE prices remained flat in June for a second consecutive month, after increasing 0.2 percent in April. Excluding food and energy, PCE prices increased 0.1 percent in June, the same increase as in May.

Personal saving rate
Personal saving as a percent of DPI was 3.8 percent in June and 3.9 percent in May.

Personal Income vs Consumer Spending Aug1

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