Personal consumption expenditures (PCE) increased by 0.2% or $47.8 billion in May compared to April, according to a report by the Bureau of Economic Analysis on Friday. Personal income grew by 0.5% or $114.1 billion, while disposable personal income added 0.5% or $94 billion.
The PCE price index, the inflation gauge followed by the Federal Reserve, rose by 2.6% on a yearly basis and fell by 0.1% from April. The core PCE index, excluding food and energy, grew by 2.6% annually and by 0.1% monthly.
