by Calculated Risk on 12/01/2022 08:42:00 AM
The BEA released the Personal Income and Outlays report for October:
The PCE price index increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.2 percent. Real DPI increased 0.4 percent in October and Real PCE increased 0.5 percent; goods increased 1.1 percent and services increased 0.2 percent.
The October PCE price index increased 6.0 percent year-over-year (YoY), down from 6.3 percent YoY in September.
The following graph shows real Personal Consumption Expenditures (PCE) through October 2022 (2012 dollars). Note that the y-axis doesn’t start at zero to better show the change.
Click on graph for larger image.
The dashed red lines are the quarterly levels for real PCE.
Personal income was above expectations, and the increase in PCE was at expectations.