PCE Price Index Increases by 0.3% in February: Personal Income and Consumption Expenditures Up

James Hyerczyk
Updated: Mar 31, 2023, 12:54 UTC

The latest figures on personal income and consumption for February reveal a small uptick in income and a slight decrease in spending.

Core PCE Price Index


  • Personal income up 0.3%, disposable income up 0.5%
  • Personal consumption expenditures up 0.2%, real PCE down 0.1%
  • Compensation increase led to rise in personal income


According to a government report, personal income increased by 0.3% in February, with disposable personal income increasing by 0.5% and personal consumption expenditures increasing by 0.2%.

PCE Price Index Up 0.3% in February

The PCE price index also increased by 0.3%, excluding food and energy.

Within PCE, services saw an increase in spending for housing and healthcare, while goods saw an increase in gasoline and other energy goods, food and beverages, and a decrease in motor vehicles and parts.

Real PCE decreased by 0.1% due to a decrease in spending on goods and services.

Real DPI increased by 0.2%, but real PCE decreased by 0.1%, with goods and services both decreasing by 0.1%.

Personal Income Increases in February Due to Wage and Salary Hike

The increase in personal income was mainly due to an increase in compensation, primarily from wages and salaries.

Personal outlays increased by $40.7 billion in February, while personal saving was $915.8 billion and the personal saving rate was 4.6%.

Prices for goods and services increased from the previous month, with food prices increasing by 0.2% and energy prices decreasing by 0.4%.

The report also includes updated estimates for personal income and outlays from October to January.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

James is a Florida-based technical analyst, market researcher, educator and trader with 35+ years of experience. He is an expert in the area of patterns, price and time analysis as it applies to futures, Forex, and stocks.

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