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EMBARGOED UNTIL RELEASE AT 8:30 a.m. EDT, Thursday, May 28, 2026 Technical: Media: Lisa Mataloni (Personal Income) Harvey Davis (PCE) Connie O'Connell 301-278-9083 301-278-9719 301-278-9003 BEA 26–25 PINIWD@bea.gov PCE@bea.gov Connie.OConnell@bea.gov Personal Income and Outlays, April 2026 Personal income decreased less than $0.1 billion (less than 0.1 percent at a monthly rate) in April, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI)—personal income less personal current taxes—decreased $19.9 billion (0.1 percent), and personal consumption expenditures (PCE) increased $111.1 billion (0.5 percent). Disposable Personal Income, Outlays, and Saving Percent change from prior period Percent 1.2 1.0 0.8 0.6 0.4 0.2 0.0 –0.2 6.0 5.0 4.0 3.0 2.0 1.0 0.0 –1.0 Oct. Nov. 2025 DPI Outlays Dec. Jan. Feb. Mar. Apr. 2026 Personal saving as a percent of DPI DPI Disposable personal income U.S. Bureau of Economic Analysis Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $114.0 billion in April. Personal saving was $611.7 billion in April, and the personal saving rate—personal saving as a percentage of DPI—was 2.6 percent. The decrease in current-dollar personal income in April primarily reflected a decrease in farm proprietors’ income that was partly offset by an increase in compensation. The $111.1 billion increase in current-dollar PCE in April reflected increases of $67.2 billion in spending on services and $44.0 billion in spending on goods. Changes in Monthly Consumer Spending April 2026 Consumer spending increased $111.1 billion Goods Gasoline and other energy goods Housing and utilities Recreation services Food services and accommodations Final expenditures of nonprofit institutions Food and beverages Other nondurable goods Recreational goods and vehicles Other services Health care Transportation services Other durable goods Furnishings and durable household equipment Clothing and footwear Financial services and insurance Motor vehicles and parts U.S. Bureau of Economic Analysis Services 28.8 22.7 12.1 11.3 9.9 9.5 8.2 8.1 7.3 6.5 1.3 1.3 0.2 –3.0 –3.9 –9.2 Billions of dollars, seasonally adjusted annual rates Real PCE increased $18.1 billion (0.1 percent at a monthly rate) in April. From the preceding month, the PCE price index for April increased 0.4 percent. Excluding food and energy, the PCE price index increased 0.2 percent. From the same month one year ago, the PCE price index for April increased 3.8 percent. Excluding food and energy, the PCE price index increased 3.3 percent from one year ago. PCE Price Indexes, Percent Change From Month One Year Ago PCE PCE, excluding food and energy 4.0 3.0 2.0 1.0 0.0 Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. 2025 PCE Personal consumption expenditures U.S. Bureau of Economic Analysis Page 2 of 5 2026 Personal Income and Related Measures [Percent change from preceding month] March Current-dollar personal income 0.5 Current-dollar DPI 0.5 Real DPI -0.2 Current-dollar PCE 1.0 Real PCE 0.3 PCE price index 0.7 PCE price index excluding food and energy 0.3 April 0.0 -0.1 -0.5 0.5 0.1 0.4 0.2 For definitions, statistical conventions, updates to personal income and outlays, and more information about these statistics, visit “Additional Information." Next release: June 25, 2026, at 8:30 a.m. EDT Personal Income and Outlays, May 2026 Page 3 of 5 Technical Notes Changes in personal income and outlays for April The April decrease of less than $0.1 billion ($19 million) in personal income primarily reflected a decrease in farm proprietors’ income that was partly offset by an increase in compensation. • The decrease in farm proprietors’ income reflected a decrease in payments to farmers from the Farmer Bridge Assistance Program, which closed application submissions in mid-April. • Within compensation, the increase was led by private wages and salaries based on U.S. Bureau of Labor Statistics (BLS) Current Employment Statistics (CES). Legal services prices The PCE price index for legal services was adjusted for the months of January and March. No adjustment was made for February or April. For more information on why BEA sometimes adjusts source data, refer to the FAQ "Does BEA adjust source data that are used to estimate GDP and related measures?". Revisions to personal income Estimates have been updated for October through March. Revisions for October through December for compensation, personal taxes, and contributions for government social insurance reflect the incorporation of fourth-quarter wage and salary data from the BLS Quarterly Census of Employment and Wages program. The estimates for January through March reflect updated BLS CES data. Page 4 of 5 Related Data Tables For the statistics highlighted in this release, as well as historical time series for these estimates, see the following data tables in BEA’s Interactive Data Application. Table 2.6. Personal Income and Its Disposition Table 2.8.1. Percent Change From Preceding Period in Real PCE by Major Type of Product Table 2.8.5. PCE by Major Type of Product Table 2.8.6. Real PCE by Major Type of Product Table 2.8.7. Percent Change From Preceding Period in Prices for PCE by Major Type of Product Table 2.8.11. Real PCE by Major Type of Product: Percent Change From Month One Year Ago Note. With the next release of PIO, today’s data will be superseded, and the links above will reflect the latest data. The original data featured in this release can then be accessed in BEA’s Data Archive. Page 5 of 5