Inflation Rises, Consumer Spending Slows

Inflation surged in September, driven by higher gas and food costs, with the PCE price index rising by 0.3% and the annual inflation rate reaching 2.8%. Despite this, consumer spending slowed down, indicating financial strain for many households. However, consumer sentiment showed a slight improvement in early December, offering a glimmer of hope for the holiday shopping season.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.