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The Independent UK
The Independent UK
National
Christopher Rugaber

US consumers keep spending briskly even in the face of persistent inflation and high interest rates

Inflation US Federal Reserve Interest Rates United States the Federal Reserve Economic Growth
Copyright 2023 The Associated Press. All rights reserved.

An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth.

Friday’s report from the Commerce Department showed that prices rose 0.4% from August to September, the same as the previous month. And compared with 12 months earlier, inflation was unchanged at 3.4%.

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