Economics
US Consumer Spending Barely Rose in June as Inflation Picked Up
- Personal spending adjusted for inflation rose 0.1% in June
- Core measures of prices increase by more than forecast
A pedestrian carries shopping bags in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US consumer spending barely rose in June after falling in the prior month, underscoring how decades-high inflation has eroded Americans’ paychecks and tempered demand.
Purchases of goods and services, adjusted for changes in prices, increased 0.1% in June after a revised 0.3% drop a month earlier, Commerce Department data showed Friday. Spending on services and merchandise both crept higher.