Personal income decreased 0.7 percent in July, after increasing 0.1 percent in June, according to the "preliminary" estimates released by the Bureau of Economic Analysis (BEA) of the US Department of Commerce, writes Retailer Daily.

The difference reflects rebates provided by the Economic Stimulus Act of 2008.* Excluding the rebates, personal income grew 0.5 percent in July, after increasing 0.3 percent in June.

Real disposable personal income (DPI), income-adjusted for inflation and taxes, fell 1.7 percent in July after falling 2.6 percent in June. Excluding rebates, real DPI decreased 0.1 percent in July after decreasing 0.4 percent in June.*

Real consumer spending (personal consumption expenditures - PCE) decreased 0.4 percent in July after decreasing 0.1 percent in June.

PCE prices rose 0.6 percent in July after rising 0.7 percent in June. Excluding food and energy, prices rose 0.3 percent, the same as in June.

(* Only some rebates - those reported as transfer payments - are included in personal income. All rebates are included in real DPI.)

More detailed data available at Retailer Daily.