The PCE price index rose 0.2% in July and 3.7% over a year. Spending increased in dollars, but was nearly flat after accounting for prices.
Why it matters
Spending can rise because people buy more, because prices rise, or both. Separating those effects is central to understanding whether households are increasing the volume of goods and services they consume.
In everyday life
The average consumption price level remained higher than a year earlier. A household's experience will depend on what it buys.
What remains uncertain
The published table rounds real spending growth to 0.0%; the text says it increased by less than 0.1%. Do not call this a spending decline.
Choose “Go deeper” for the full explanation, definitions, and differences across households.
Sources & dates
Personal Income and Outlays, July 2026
U.S. Bureau of Economic Analysis
- Event
- Official release on Aug 26, 2026. A statistical release describing an earlier observation period.
- Observation period
- July 2026
- Geography
- United States
- Methodology
- Monthly percent changes are not annualized. Real measures account for inflation; current-dollar measures do not. Core excludes food and energy.
- Publication
- Meaningful update
April–June estimates updated. A broader annual update is scheduled for September 30.
A source check is not a new economic release. These are the figures available in the linked release vintage. Later releases may revise them.
Revision history (2)
Sep 10, 2026 — Initial publication.
Sep 10, 2026 — metadata-correction: Publication date corrected: the preparation date was initially displayed. Public launch was September 10 UTC (September 9 in the U.S. Eastern time zone). The sourced figures and explanation are unchanged.