Friday, January 28, 2022

Bureau of Economic Analysis: "Personal Income and Outlays, December 2021" (PCE Index up 5.8% Dec YoY)

From the BEA, January 28:

Personal income increased $70.7 billion (0.3 percent) in December according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) increased $39.9 billion (0.2 percent) and personal consumption expenditures (PCE) decreased $95.2 billion (0.6 percent).

Real DPI decreased 0.2 percent in December and Real PCE decreased 1.0 percent; goods decreased 3.1 percent and services increased 0.1 percent (tables 5 and 7). The PCE price index increased 0.4 percent. Excluding food and energy, the PCE price index increased 0.5 percent (table 9).

  2021
Aug. Sept. Oct. Nov. Dec.
Percent change from preceding month
Personal income:  
     Current dollars 0.3 -1.0 0.6 0.5 0.3 
Disposable personal income:  
     Current dollars 0.3 -1.3 0.5 0.4 0.2
     Chained (2012) dollars -0.1 -1.6 -0.2 -0.2 -0.2
Personal consumption expenditures (PCE):  
     Current dollars 1.1 0.6 1.5 0.4 -0.6
     Chained (2012) dollars 0.7 0.3 0.9 -0.2  -1.0 
Price indexes:  
     PCE 0.4 0.3 0.6 0.6 0.4
     PCE, excluding food and energy 0.3 0.2 0.4 0.5 0.5
Price indexes: Percent change from month one year ago
     PCE 4.2 4.4 5.1 5.7 5.8
     PCE, excluding food and energy3.63.74.24.74.9

...The PCE price index for December increased 5.8 percent from one year ago, reflecting increases in both goods and services (table 11). Energy prices increased 29.9 percent while food prices increased 5.7 percent. Excluding food and energy, the PCE price index for December increased 4.9 percent from one year ago....

....MORE