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Resilient US Consumers Spend Slightly More in August

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WASHINGTON (AP) — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials.

Americans boosted their spending at stores and for services such as haircuts by 0.4% in August, after it fell 0.2% in July, the Commerce Department said Friday.

The government’s report also showed that an inflation gauge closely monitored by the Federal Reserve rose 0.3% last month, faster than July.

—Copyright 2022 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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