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Personal Income and Outlays, June 2021 and Annual Update
Personal income increased $26.1 billion (0.1 percent) in June according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) decreased $2.6 billion (less than 0.1 percent) and personal consumption expenditures (PCE) increased $155.4 billion (1.0 percent). Real DPI decreased 0.5 percent in June and Real PCE increased 0.5 percent; goods decreased 0.2 percent and services increased 0.8 percent (tables 5 and 7). The PCE price index increased 0.5 percent. Excluding food and energy, the PCE price index increased 0.4 percent (table 9). The increase in personal ... (full story)
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Key inflation indicator up 3.5% year over year in June vs. 3.6% estimate
An inflation indicator that the Federal reserve uses as its key guide rose 3.5% in June, a sharp acceleration that was nonetheless right around Wall Street expectations, the Commerce Department reported Friday. The personal consumption expenditures price index excluding food and energy was expected to increase 3.6% at a time when the U.S. economy has seen higher inflation pressures than it has seen in more than a decade. That gain was slightly ahead of the 3.4% May increase and represents the biggest move since July 1991. Fed officials have said they expect the inflation surge to be temporary as it has come largely ... (full story)