Friday, March 13, 2026 from BEA

Personal income increased $113.8 billion (0.4 percent at a monthly rate) in January, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $219.9 billion (0.9 percent), and personal consumption expenditures (PCE) increased $81.1 billion (0.4 percent).

This report for January 2026, originally scheduled for February 26, 2026, was rescheduled due to the October–November 2025 government shutdown.

Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $85.8 billion in January. Personal saving was $1.05 trillion in January, and the personal saving rate—personal saving as a percentage of DPI—was 4.5 percent.

The increase in current-dollar personal income in January primarily reflected increases in compensation, personal dividend income, and personal current transfer receipts.

The $81.1 billion increase in current-dollar PCE in January reflected an increase of $105.7 billion in spending on services that was partly offset by a decrease of $24.6 billion in spending on goods.

Real PCE increased $17.0 billion (0.1 percent at a monthly rate) in January.

From the preceding month, the PCE price index for January increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.4 percent.

From the same month one year ago, the PCE price index for January increased 2.8 percent. Excluding food and energy, the PCE price index increased 3.1 percent from one year ago.