Consumer spending, the primary driver of economic growth, rose 0.8% in July, as Americans spent more on groceries, recreational goods and vehicles, and on services such as housing and dining out.
As inflation climbs in the U.S., rising food and energy costs have pushed the nation’s most popular price index to its highest level in four decades. WSJ’s Gwynn Guilford explains how the consumer-price index works and what it can tell you about inflation. Illustration: Jacob Reynolds
Consumers increased their spending in July, and inflation accelerated, potentially complicating the Federal Reserve’s debate on whether to hold interest rates steady in September.Continue reading your article with
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