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US consumers tighten their belts as inflation bites

Spending rose 0.2% for January - below the 0.3% gain forecast and 0.5% increase in the previous month

Published Wed, Mar 1, 2017 · 09:50 PM
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Washington

CONSUMER spending rose less than projected in January as rising prices pinched Americans' wallets, leading inflation-adjusted purchases to fall by the most since 2009.

The 0.2 per cent advance in spending followed a 0.5 per cent increase in the prior month, the Commerce Department reported on Wednesday.

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