US consumer spending rises in September as inflation stays high at 3.6%
Washington, Oct. 29 -- US consumer spending increased in September as inflation remained elevated at 3.6 per cent on a year-on-year basis, according to data released by the US Bureau of Economic Analysis (BEA) on Thursday.
Personal consumption expenditures (PCE), a measure of consumer spending, increased by USD 113.1 billion, or 0.5 per cent, in September.
However, after adjusting for inflation, real consumer spending rose by less than 0.1 per cent during the month, indicating only a marginal increase in spending in volume terms.
The BEA said in its official statement, "The $113.1 billion increase in current-dollar PCE in September reflected increases of $35.1 billion in spending on goods and $78.1 billion in spending on services."
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