BEA, Report: Personal Income and Outlays, April 2023

“From the same month one year ago, the PCE price index for April increased 4.4 percent. Prices for goods increased 2.1 percent and prices for services increased 5.5 percent. Food prices increased 6.9 percent and energy prices decreased 6.3 percent. Excluding food and energy, the PCE price index increased 4.7 percent from one year ago.”

“The 0.5 percent increase in real PCE in April reflected an increase of 0.8 percent in spending on goods and an increase of 0.3 percent in spending on services (table 7). Within goods, the largest contributor to the increase was spending for motor vehicles and parts (led by new motor vehicles). Within services, the increase was led by spending for financial services and insurance.”