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International Business Times UK
International Business Times UK
World
Shyna Mae Deang

US Consumer Spending Jumps in July as Services Drive Inflation Higher

Inflation United States US Federal Reserve Jerome Powell

American households opened their wallets in July, pushing spending higher and nudging inflation up with it. The latest government data shows that demand for services from summer travel to healthcare is keeping the US economy humming even as borrowing costs rise.

Spending Surge

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