by calculated risk November 27, 2024 10:13:00 AM
announced by BEA Personal Income and Expenditures, October 2024 October Report:
Personal income increased by $147.4 billion in October, or a 0.6% monthly rate.According to estimates released today by the US Bureau of Economic Analysis. Disposable personal income (DPI), which excludes personal current taxes, increased by $144.1 billion (0.7%); Personal consumption expenditures (PCE) increased by $72.3 billion (0.4%).
In October, the PCE price index rose 0.2%. The PCE price index excluding food and energy rose 0.3%. Actual DPI increased by 0.4% and Actual PCE increased by 0.1%. Goods increased by less than 0.1% and services increased by 0.2%.
Emphasis added
october The PCE price index rose 2.3% year-on-year, up from 2.1% in September and lower than the recent high of 7.0% in June 2022.
The following graph shows actual personal consumption expenditures (PCE) through October 2024 (2017 dollars). To better show change, the y-axis does not start at 0..
Click on the graph to see a larger image.
The red dotted line is the quarterly level of actual PCE.
Personal income exceeded expectations, and PCE also met expectations.
Inflation was close to expectations.
