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August 30, 2018

Personal income increased 0.3 percent in July after increasing 0.4 percent in June. Wages and salaries, the largest component of personal income,increased 0.4 percent in July, the same increase as in June.

Personal Income

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in July after increasing 0.4 percent in June.

Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in July after increasing 0.3 percent in June.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.2 percent in July after increasing 0.3 percent in June. Spending on durable goods decreased 0.5 percent in July after increasing 0.2 percent in June.

PCE prices increased 0.1 percent in July, the same increase as in June. Excluding food and energy, PCE prices increased 0.2 percent in July after increasing 0.1 percent in June.

Personal saving rate Personal saving as a percent of DPI was 6.7 percent in July and 6.8 percent in June.

For more information, read the full report.

Real Disposable Personal Income and Real Consumer Spending