Spending rose 0.6% as core inflation at 2.1% was above the Fed comfort zone

Personal income increased $57.9 billion, or 0.5 percent, and disposable personal income (DPI) increased $36.6 billion, or 0.4 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $55.0 billion, or 0.6 percent. 

Private wage and salary disbursements increased $50.4 billion or 0.9% in April, compared with an increase of $27.3 billion 0r 0.5% in March.

Disposable personal income (DPI) increased $36.6 billion, or 0.4 percent, in April.

Personal saving was a negative $146.8 billion in April, compared with a negative $128.2 billion in March. Personal saving as a percentage of disposable personal income was a negative 1.6 percent in April, compared with a negative 1.4 percent in March.

Core inflation, excluding food and energy, rose 2.1% over an year ago period, the highest in an year and above the Fed comfort level of under 2%.

 

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