U.S. CONSUMERS SLOWED SPENDING IN JULY, INFLATION HISTORICALLY HIGH

Key Points:

  • U.S. consumer spending rose by 0.1%, or $23.7 Billion, in July, down from 1.0% in June.
  • Personal income increased by 0.2%, or $47.0 Billion, in July, down from 0.7% in June.
  • The overall personal consumption expenditures price index fell 0.1% in July and is up 6.3% from a year prior.
  • The core personal consumption expenditures price index, which excludes food and energy, rose 0.1% in July and is up 4.6% from the previous year.
  • The Right Facts will continue to monitor spending and income.
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