By Alicia Wallace, CNN
(CNN) — The US economic engine sputtered in May: Consumer spending slowed more than expected, according to new data released Friday that also showed inflation heated up on an annual basis.
Friday’s report from the Commerce Department showed that consumer spending fell 0.1% last month after rising 0.2% in April.
The Personal Consumption Expenditures price index was 2.3% for the 12 months ended in May, versus 2.1% in April. On a monthly basis, prices rose 0.1%, unchanged from April.
Economists were expecting the PCE price index to rise 0.1% from April, resulting in the annual rate ticking up to 2.3%. They expected spending to pick up slightly to 0.3%, according to FactSet.
This story is developing and will be updated.
The-CNN-Wire™ & © 2025 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
Americans reined in their spending last month News Channel 3-12.
Read More Details
Finally We wish PressBee provided you with enough information of ( Americans reined in their spending last month )
Also on site :
- Numbrix 9 - June 27
- Who Was Eliminated on 'RuPaul's Drag Race All Stars' Season 10 Episode 9 This Week?
- Ventura City Council passes “Care Policy” in a 6 to 1 vote