Friday, September 27, 2024

Huzzah! Personal Consumption Expenditures Price Index up 0.1% Month-over-Month; Up 2.2% Year-over-Year

From the Bureau of Economic Analysis, September 27:

Personal Income and Outlays, August 2024

Personal income increased $50.5 billion (0.2 percent at a monthly rate) in August, according to estimates released today by the U.S. Bureau of Economic Analysis (tables 2 and 3). Disposable personal income (DPI), personal income less personal current taxes, increased $34.2 billion (0.2 percent) and personal consumption expenditures (PCE) increased $47.2 billion (0.2 percent).

The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent (table 5). Real DPI increased 0.1 percent in August and real PCE increased 0.1 percent; goods increased less than 0.1 percent and services increased 0.2 percent (tables 3 and 4)....

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.... Prices

From the preceding month, the PCE price index for August increased 0.1 percent (table 5). Prices for goods decreased 0.2 percent and prices for services increased 0.2 percent. Food prices increased 0.1 percent and energy prices decreased 0.8 percent. Excluding food and energy, the PCE price index increased 0.1 percent. Detailed monthly PCE price indexes can be found on Table 2.4.4U.

From the same month one year ago, the PCE price index for August increased 2.2 percent (table 7). Prices for goods decreased 0.9 percent and prices for services increased 3.7 percent. Food prices increased 1.1 percent and energy prices decreased 5.0 percent. Excluding food and energy, the PCE price index increased 2.7 percent from one year ago....

....MUCH MORE, including that always interesting Table 2.4.4U.