August 30, 2012

Personal income increased 0.3 percent in July, the same increase as in June. Wages and salaries, the largest component of personal income, increased 0.2 percent in July after increasing 0.4 percent in June.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in July, the same increase as in June.

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

Real consumer spending, spending adjusted for price changes, increased 0.4 percent in July after decreasing 0.1 percent in June. Spending on durable goods increased 1.1 percent after increasing 0.4 percent, while spending on nondurable goods rose 0.5 percent after decreasing 0.5 percent.

PCE prices remained flat in July after increasing 0.1 percent in June. Excluding food and energy, the PCE price index also remained flat after increasing 0.2 percent.

Personal saving rate
Personal saving as a percent of DPI was 4.2 percent in July, compared with 4.3 percent in June.

To learn more about personal income and outlays, read the full report.