From May to June, headline personal consumption expenditures (PCE) price index inflation was 0.40 percent, slightly below the 0.45 percent from April to May and even with the 0.40 percent from March to April. Core PCE price index inflation, which excludes food and energy prices, was 0.13, down from the 0.32 percent from May. Real PCE increased by 0.40 or $67.96 billion, up from 0.26 percent, or $43.82 billion in June. The core PCE price index inflation was 3.29 percent, down from 3.41 percent recorded in May. Month-over-month, headline personal income increased by 0.20 percent, or $54.9 billion, while real disposable personal income per capita increased by 0.29 percent, which means that after tax income rose more quickly than prices.