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Personal Income and Outlays, January 2024
Personal income increased $233.7 billion (1.0 percent at a monthly rate) in January, according to estimates released today by the Bureau of Economic Analysis (tables 2 and 3). Disposable personal income (DPI), personal income less personal current taxes, increased $67.6 billion (0.3 percent) and personal consumption expenditures (PCE) increased $43.9 billion (0.2 percent). The PCE price index increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.4 percent (table 5). Real DPI decreased less than 0.1 percent in January and real PCE decreased 0.1 percent; goods decreased 1.1 percent and ... (full story)
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Key Inflation Measure Falls To Lowest Rate Since Early 2021
Inflation moderated as economists forecasted last month, according to the Federal Reserve’s favored inflation metric, bringing welcome news for investors, home buyers and consumers alike looking for interest rate cuts. Americans spent 2.4% more in January than they did in January 2023, according to the personal consumption expenditures (PCE) price index released Thursday morning by the Bureau of Economic Analysis. That meets consensus economist estimates of 2.4% annual PCE inflation and comes in lower than last month’s 2.6%. It’s the lowest PCE reading since March 2021. Core PCE inflation, which tracks ... (full story)