Personal Income Rises 0.3%, Inflation Benign
The BEA's Personal Income and Outlays Report for August has the details.
- Personal income increased $60.3 billion (0.3 percent) in August.
- Disposable personal income (DPI) increased $51.4 billion (0.3 percent)
- Personal consumption expenditures (PCE) increased $46.4 billion (0.3 percent).
- Real DPI increased 0.2 percent in August and Real PCE increased 0.2 percent.
- The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased less than 0.1 percent.
The BLS says core inflation is zero and year-over-year core inflation is 2.0%.
Your results may differ substantially especially if you buy your own health insurance, don't have health insurance, are in school, are looking to buy a house, or live in a high rent area.
Curiously, a debate over where inflation should be is underway at the Fed and at central banks in general. For discussion, please see Rethinking the Fed's 2% Inflation Target: Spotlight On an Absurd Debate.
Mike "Mish" Shedlock