CONSUMER SPENDING SPIKED IN OCTOBER AS INFLATION EASED

Key Points:

  • U.S. consumer spending rose by 0.8%, or $147.9 Billion, in October, up from 0.6% in September.
  • Personal income increased by 0.7%, or $155.3 Billion, in October, up from 0.4% in September.
  • The overall personal consumption expenditures price index rose 0.3% in October and is up 6.0% from a year prior.
  • The core personal consumption expenditures price index, which excludes food and energy, rose 0.2% in October and is up 5.0% from the previous year.
  • The Right Facts will continue to monitor spending and income.
Source