By Laura Conaway

From the Bureau of Economic Analysis:

Personal income decreased $159.8 billion, or 1.3 percent . . . in June.

Personal spending rose from May to June by $41.4 billion, or 0.4 percent. The bureau's price index shows a .5 percent increase in June, versus .1 percent in May. If you exclude the volatile costs of food and energy, prices increased .2 percent versus .1 percent in May. "This should help temper any near-term inflation fears," writes Marc Chandler of Brown Brothers Harriman.

The BEA pins the monthly fall in income on the American Recovery and Reinvestment Act, otherwise known as the $787 billion stimulus, which called for a one-time $250 check to Social Security recipients in May.

Wages and salaries, as a category, notched a tenth straight monthly decline, falling by .4 percent in June.

categories: Employment, News, Standard of Living

8:45 - August 4, 2009

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