Updated: 30-Jul-26 10:10 ET
| June Personal Income and Spending |
 |
|
| Updated: 30-Jul-26 10:10 ET |
Highlights
- Personal income increased 0.2% month-over-month in June (Briefing.com consensus: 0.3%), personal spending jumped 0.3% (Briefing.com consensus: 0.4%), the PCE Price Index was down 0.1% (Briefing.com consensus: -0.1%), and the core-PCE Price Index rose 0.1% (Briefing.com consensus: 0.2%).
- On a year-over-year basis, the PCE Price Index was up 3.7% versus 4.1% in May, and the core-PCE Price Index was up 3.3% versus 3.4% in June.
Key Factors
- The PCE Price Index for Goods was down 0.6% in June after increasing 0.4% in May.
- The PCE Price Index for Services was up 0.1% in June after increasing 0.5% in May.
- Wages and salaries increased 0.2% month-over-month in June after increasing 0.4% in May.
- Real disposable income increased 0.3% month-over-month in June after increasing 0.2% in May.
- Real personal spending was up 0.4% month-over-month after being up 0.4% in May.
- The personal savings rate, as a percentage of disposable personal income, was 2.7%, down from 2.8% in May.
Big Picture
- The key takeaway from the report, taking into account Fed Chair Warsh's demonstrative statement that the Fed doesn't have a soft inflation target but a hard target of 2.0%, is that the PCE Price Index remains well above 2.0%.
| Category | JUN | MAY | APR | MAR | FEB |
| Personal Income | |||||
| Total Income | 0.2% | 0.7% | 0.1% | 0.5% | 0.0% |
| Wage and Salary | 0.2% | 0.4% | 0.3% | 0.4% | 0.1% |
| Disposable Income | 0.2% | 0.7% | 0.0% | 0.5% | -0.1% |
| Savings Rate | 2.7% | 2.8% | 3.0% | 3.5% | 3.8% |
| Personal Consumption | |||||
| Total (Nominal) | 0.3% | 0.9% | 0.5% | 0.9% | 0.6% |
| Total (Real, Chain $) | 0.4% | 0.4% | 0.1% | 0.3% | 0.2% |
| Core PCE Deflator | |||||
| Month/Month | 0.1% | 0.3% | 0.2% | 0.3% | 0.4% |
| Year/Year | 3.3% | 3.4% | 3.3% | 3.3% | 3.0% |