The PCE price index showed that spending actually decreased 0.1% when adjusted to remove price changes from inflation.

FORBES: Consumer Spending Hit Speedbump In May: Markets Responding With Resilience

The core PCE price index, which excludes food and energy prices, increased one point more than it did in April, moving up 0.3%.

FORBES: Consumer Spending Hit Speedbump In May: Markets Responding With Resilience

All told, over the four quarters of 2007, the price index for personal consumption expenditures (PCE) increased 3.4 percent, up from 1.9 percent during 2006.

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