Updated: 31-Jul-25 09:46 ET
Highlights
- Personal income increased 0.3% month-over-month in June (Briefing.com consensus: 0.3%) following a 0.4% decline in May.
- Personal spending increased 0.3% month-over-month (Briefing.com consensus: 0.4%) following an upwardly revised unchanged reading (from -0.1%) in May.
- The PCE Price Index was up 0.3% month-over-month (Briefing.com consensus: 0.3%) and 2.6% yr/yr (vs 2.4% in May); and the core-PCE Price Index was up 0.3% month-over-month (Briefing.com consensus: 0.3%) and 2.8% yr/yr (vs 2.8% in May).
- The PCE Price Index for Goods was up 0.3% month-over-month and up 0.6% year-over-year versus up 0.1% in May. The PCE Price Index for Services was up 0.2% month-over-month, leaving it up 3.5% year-over-year, unchanged from May.
- Wages and salaries increased 0.1% month-over-month after increasing 0.3% in May.
- Rental income was down 0.4% month-over-month after being down 0.5% in May.
- Personal interest income rose 0.2% month-over-month after increasing 0.2% in May. Personal dividend income was down 0.2% month-over-month following a 0.2% increase in May.
- Real disposable income was flat month-over-month and was up 1.7% year-over-year versus 1.7% in May. Real personal spending increased 0.1% month-over-month and was up 2.1% year-over-year versus 2.2% in May.
- The personal savings rate, as a percentage of disposable personal income, held steady at 4.5%.
- The key takeaway from the report is that real personal spending was up a modest 0.1% in June. That isn't much, although it does show that consumers continue to have the capacity to spend in the face of higher prices.
| Category | JUN | MAY | APR | MAR | FEB |
| Personal Income | |||||
| Total Income | 0.3% | -0.4% | 0.7% | 0.6% | 0.7% |
| Wage and Salary | 0.1% | 0.3% | 0.4% | 0.5% | 0.5% |
| Disposable Income | 0.3% | -0.5% | 0.8% | 0.6% | 0.7% |
| Savings Rate | 4.5% | 4.5% | 5.0% | 4.4% | 4.4% |
| Personal Consumption | |||||
| Total (Nominal) | 0.3% | 0.0% | 0.2% | 0.7% | 0.3% |
| Total (Real, Chain $) | 0.1% | -0.2% | 0.1% | 0.7% | -0.1% |
| Core PCE Deflator | |||||
| Month/Month | 0.3% | 0.2% | 0.2% | 0.1% | 0.5% |
| Year/Year | 2.8% | 2.8% | 2.6% | 2.7% | 2.9% |
