CONSUMERS BOOSTED SPENDING IN AUGUST AS INFLATION SPREADS

Key Points:

  • U.S. consumer spending rose by 0.4%, or $67.5 Billion, in August, up from -0.2% in July.
  • Personal income increased by 0.3%, or $71.6 Billion, in August, the same reading as July.
  • The overall personal consumption expenditures price index rose 0.3% in August and is up 6.2% from a year prior.
  • The core personal consumption expenditures price index, which excludes food and energy, rose 0.6% in August and is up 4.9% from the previous year.
  • The Right Facts will continue to monitor spending and income.
Source