Updated: 09-Apr-26 10:08 ET
Highlights
- Personal income decreased 0.1% month-over-month in February (Briefing.com consensus: 0.5%) following a 0.4% increase in January.
- Personal spending rose 0.5% (Briefing.com consensus: 0.6%) following a downwardly revised 0.3% (from 0.4%) in January.
- The PCE Price Index jumped 0.4% (Briefing.com consensus: 0.4%) after rising 0.3% in January and was up 2.8% year-over-year, unchanged from January.
- The core PCE Price Index also rose 0.4% (Briefing.com consensus: 0.3%) on the heels of a 0.4% increase in January and was up 3.0% year-over-year versus 3.1% in January.
- The PCE Index for Goods was up 0.7% in February after being unchanged in January. The index was up 1.8% year-over-year in February versus 1.3% in January.
- The PCE Price Index for Services was up 0.2% in February after increasing 0.4% in January. The index was up 3.3% year-over-year versus 3.5% in January.
- Wages and salaries increased 0.2% month-over-month in February after increasing 0.5% in January.
- Rental income was flat month-over-month in February after declining 0.2% in January.
- Personal interest income increased 0.3% month-over-month in February after increasing 0.3% in January. Personal dividend income decreased 1.7% after rising 1.9% in January.
- Real disposable income declined 0.5% month-over-month in February after increasing 0.6% in January.
- Real personal spending was up 0.1% month-over-month after being unchanged in January.
- The personal savings rate, as a percentage of disposable personal income, fell to 4.0% from 4.5% in January.
- The key takeaway from the report is that it reflects sticky inflation pressure before the Iran war started, so it won't sway the Fed from sticking with a wait-and-see policy stance.
| Category | FEB | DEC | NOV | OCT | SEP |
| Personal Income | |||||
| Total Income | -0.1% | 0.3% | 0.4% | 0.1% | 0.4% |
| Wage and Salary | 0.2% | 0.1% | 0.5% | 0.3% | 0.4% |
| Disposable Income | -0.1%% | 0.3% | 0.3% | 0.0% | 0.4% |
| Savings Rate | 4.0% | 4.0% | 4.0% | 4.0% | 4.3% |
| Personal Consumption | |||||
| Total (Nominal) | 0.5% | 0.4% | 0.3% | 0.4% | 0.4% |
| Total (Real, Chain $) | 0.1% | 0.1% | 0.1% | 0.2% | 0.1% |
| Core PCE Deflator | |||||
| Month/Month | 0.4% | 0.4% | 0.2% | 0.2% | 0.2% |
| Year/Year | 3.0% | 3.0% | 2.8% | 2.8% | 2.8% |
