US Inflation Reaches Three-Year High as Spending Increases
US inflation has climbed to a three-year high, with the Federal Reserve's preferred gauge hitting a new peak. This rise in inflation is accompanied by an increase in consumer spending.
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US Inflation Climbs to Three-Year High, Spending Picks Up - Bloomberg
US Inflation Climbs to Three-Year High, Spending Picks Up Bloomberg
Read full article →US inflation rises to 3-year high, spending picks up
US consumer spending accelerated in May even as prices rose at the fastest pace in more than three years, suggesting Americans are powering through the fallout from the Iran war. The personal consumption expenditures price index rose 4.1 per cent last month from a year earlier, the most since April 2023, Bureau of Economic Analysis data out on Thursday showed. Excluding food and energy, prices were up 3.4 per cent from a year earlier. Inflation-adjusted consumer spending rose 0.3 per cent fro...
By Bloomberg
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