Personal income increased $71.4 billion (0.3 percent at a monthly rate) in June, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $61.0 billion (0.3 percent) and personal consumption expenditures (PCE) increased $69.9 billion (0.3 percent).
Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $69.5 billion in June. Personal saving was $1.01 trillion in June and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.5 percent.
The increase in current-dollar personal income in June primarily reflected increases in government social benefits to persons and in compensation.
The $69.9 billion increase in current-dollar PCE reflected increases of $40.1 billion in spending on services and $29.9 billion in spending on goods.
From the preceding month, the PCE price index for June increased 0.3 percent. Excluding food and energy, the PCE price index also increased 0.3 percent.
From the same month one year ago, the PCE price index for June increased 2.6 percent. Excluding food and energy, the PCE price index increased 2.8 percent from one year ago.
| Personal Income and Related Measures |
||||
|---|---|---|---|---|
| Current-dollar personal income | 0.3 | |||
| Current-dollar disposable personal income | 0.3 | |||
| Real disposable personal income | 0.0 | |||
| Current-dollar personal consumption expenditures (PCE) | 0.3 | |||
| Real PCE | 0.1 | |||
| PCE price index | 0.3 | |||
| PCE price index, excluding food and energy | 0.3 | |||
Next release: August 29, 2025, at 8:30 a.m. EDT
Personal Income and Outlays, July 2025
Technical Notes
Changes in Personal Income and Outlays for June
The increase in personal income in June primarily reflected increases in government social benefits to persons and in compensation.
- The increase in government social benefits to persons was led by Social Security payments, based on data from the Social Security Administration and the Monthly Treasury Statement.
- The increase in compensation reflected increases of $10.9 billion in government wages and salaries, $10.8 billion in supplements (mainly employer contributions for employee pension and insurance funds), and $6.3 billion in private wages and salaries, based on data from the Bureau of Labor Statistics (BLS) Current Employment Statistics (CES). Wages and salaries in goods-producing industries increased $4.5 billion. Wages and salaries in services‑producing industries increased $1.9 billion.
Revisions to Personal Income
Estimates have been updated for April and May. Revisions to compensation reflect updated BLS CES data. Within personal income receipts on assets, personal dividend income was revised up, reflecting an updated sample of dividends paid by publicly traded companies. Within government social benefits, Medicaid was revised up, reflecting Monthly Treasury Statement data.
