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Personal Income and Outlays, February 2024
Personal income increased $66.5 billion (0.3 percent at a monthly rate) in February, 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 $50.3 billion (0.2 percent) and personal consumption expenditures (PCE) increased $145.5 billion (0.8 percent). The PCE price index increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.3 percent (table 5). Real DPI decreased 0.1 percent in February and real PCE increased 0.4 percent; goods increased 0.1 percent and services ... (full story)
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PCE inflation report: Key measure ticks higher for first time since September
An annual inflation measure watched closely by the Federal Reserve crept higher in February, its first rise in five months and a sign the central bank could remain wary about cutting interest rates too soon. An underlying gauge of price gains dipped but stayed elevated. Fed Chair Jerome Powell said last week the central bank would not overreact to disappointing inflation numbers so far this year, at least partly calming any jitters that could be set off by Friday’s report. Consumer prices overall increased 2.5% from a year earlier, above the 2.4% rise in January but well below the 40-year high of 7% in June 2022, ... (full story)
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