Economy / Prices
June PCE prices fell 0.1% from May; they were 3.7% above a year earlier
This is a monthly accounts release, not the quarterly GDP price line.
Sources
U.S. BEA, Personal Income and Outlays, June 2026, released 8:30 a.m. EDT, 07-30-2026. https://www.bea.gov/news/2026/personal-income-and-outlays-june-2026
In June, the PCE price index was 0.1% lower than in May and 3.7% higher than a year earlier. Households saved 2.7% of disposable income that month. This is a monthly accounts release, not the quarterly GDP price line.
Prices in the PCE index slipped on the month and remained 3.7% above a year earlier. Personal income rose 0.2%, or $54.9 billion. Disposable personal income rose 0.2%, or $48.3 billion. Consumer spending (PCE) rose 0.3%, or $65.2 billion. Real PCE rose 0.4%, or $68.0 billion. Personal saving was $646.1 billion.
BEA’s June personal-income release, out at 8:30 a.m. EDT on 07-30-2026, is a monthly snapshot. The PCE price index fell 0.1% from May. From a year earlier it was up 3.7%. Excluding food and energy, the same index rose 0.1% on the month and 3.3% from a year earlier.
Income moved too. Personal income increased 0.2%, or $54.9 billion, from May. Disposable personal income increased 0.2%, or $48.3 billion. Spending, as PCE, increased 0.3%, or $65.2 billion. After prices, real PCE increased 0.4%, or $68.0 billion.
Saving in June was $646.1 billion, 2.7% of disposable personal income.
The GDP advance for 2026:Q2 reports a PCE price index of 5.1% at a quarterly seasonally adjusted annual rate. That is not this 3.7% year-ago print, and it is not a CPI figure. This page does not carry CPI.
Month-over-month is not the quarterly rate
The 0.1% decline is June versus May. The 3.7% figure is June versus a year earlier. Neither one is the 5.1% quarterly PCE price index at an annual rate from the 2026:Q2 GDP advance. Same agency, different math.
Keep June monthly separate from 2026:Q2 SAAR
June 2026 PCE price index −0.1% m/m and +3.7% y/y; saving rate 2.7% of DPI. Open the 07-30-2026 Personal Income and Outlays release. 08-26-2026 release replaces June as the latest month.
What we do not know
This page does not print a CPI figure. It does not print a BLS jobs print. The 5.1% quarterly PCE price index at an annual rate from the 2026:Q2 advance is a different construct from the 3.7% year-ago June print. Do not call them the same number.
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Corrections
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