See the full pdf at the Bureau of Economic Statistics, here.
Personal savings fell a full percentage point, or $116 billion, while personal disposable income went up $17 billion, matching exactly the increase in personal outlays of $133 billion.
Get it? People are saving less and spending any increases just to get by because of . . . increasing prices.
A falling savings rate, now at 4.1 percent, is woefully inadequate. A person saving at that rate making $50,000 per year would need over 12 years to save just 6 months' expenses.
