US Consumer Spending Jumps While Key Inflation Gauge Slows Down
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US consumer spending jumped in March while a key measure of inflation decelerated, a welcome reprieve before tariffs are expected to broadly drive up prices.
Inflation-adjusted consumer spending climbed 0.7% last month, according to Bureau of Economic Analysis data out Wednesday. That was the most since the start of 2023 and suggested households spent aggressively to get ahead of new tariffs.