WASHINGTON, June 27 (UPI) -- Consumer incomes rose 0.3 percent in May, gaining faster than consumer spending, the U.S. Bureau of Economic Analysis reported Monday.
Incomes rose slightly less than the 0.4 percent pace of the previous three months. The gain in spending, which rose 0.1 percent, is considerably slower than the 0.4 percent month-to-month gain in April. It is also a drop from the 0.5 percent in March and the 0.8 percent gain in February.
Disposable incomes in May rose by $29.2 billion or 0.2 percent, a 10th of a percentage point slower than the previous month.
Personal savings rose to $591.1 billion from April's $568 billion.
Consumer prices were up 0.2 percent after rising 0.3 percent in April. Core prices, which excludes food and energy costs, rose 0.3 percent, slightly faster than the 0.2 percent gain in April.
