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Consumer spending dips in April

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Consumer spending dips in April

Disposable income, savings rate up. Signs of inflation appear.

The Commerce Department reported today that consumer spending declined 0.1% in April.  This is the first such decline in a year.

In addition, personal income in April increased 0.3%, and disposable personal income rose 0.3%.

Personal saving -- DPI less personal outlays -- was $518.1 billion in April, compared with $464.4 billion in March. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.0% in April, compared with 3.6% in March.

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Signs of inflation appeared during April, with both the overall index and the index excluding food and energy increasing by 0.2%.  The index is up 1.6% from a year ago, the highest since November 2012.

 

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