Inflation weighs on household spending in the United States

Inflation weighs on household spending in the United States

Economy / By / June 30, 2022

US household spending slowed in May due to record inflation and incomes not rising enough to offset soaring prices, which could however satisfy the US central bank. In May, spending rose just 0.2% from 0.6% in April and income rose 0.5%, according to Commerce Department data released Thursday. At the same time, inflation accelerated to …

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