Consumer spending dips as inflation remains high

Consumer spending dips as inflation remains high

(NewsNation) — Consumers are starting to put away their pocketbooks as it appears the rising prices on goods, gas prices and high interest rates are beginning to take a toll on consumer spending.
Spending dropped 0.4% in May from April, when adjusted for inflation, the first dip seen in 2022, according to data released by the Federal Reserve. A dip could be yet another sign a recession is on the…

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