WASHINGTON - Personal consumption expenditures rose 0.4% in July, as personal income rose 0.2%, the Commerce Department reported Monday.
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Core PCE, which excludes food and energy costs, increased 0.1% for the month and 1.4% from a year ago.
Disposable personal income, excluding taxes, increased 0.2%.
Incomes in June were flat, and as was consumption in that month.
The personal savings rate, which is disposable personal income minus consumption, dropped $26.3 billion in July to $673.4 billion, compared to a savings rate of $699.7 billion in June.
