September PCE: Americans Spent More Dollars, but Bought Barely More
ECONOMY / THE PURCHASING-POWER ISSUE September PCE: More dollars. Barely more. September PCE The receipt is not the basket. NEWJINMEDIA · October 31, 2026 A shopper checks her phone beside grocery shelves in Washington, D.C. Archival USDA photograph. USDA Food and Nutrition Service · Source · Public domain +0.5% dollar spending · less than +0.1% real consumption · −0.3% real disposable income The receipt grew faster than the basket Americans’ consumer spending rose 0.5 percent in September 2026, but the increase looked very different after inflation. Real personal consumption expenditures rose by less than 0.1 percent, while inflation-adjusted disposable income fell 0.3 percent. The Bureau of Economic Analysis released those estimates on October 29. The important contrast is not between a good number and a bad number. It is between paying more dollars and receiving a larger volume of goods and services. The PCE price index increased 0.5 percent from August and 3.6 percent from a y...