Consumer spending, inflation up in July; incomes cool
Fri, Aug 31, 2018 - 5:50 AM
Hoppers waiting to try on sneakers at Stadium Goods in New York. Purchases, which account for about 70 per cent of the economy, rose 0.4 per cent from the prior month for the second straight time.
US consumer spending extended gains into July and inflation rose to a six-year high, reflecting economic strength that should keep Federal Reserve policy makers on track to keep gradually raising interest rates.
Purchases, which account for about 70 per cent of the economy...