Economy #inflation#consumer spending
US inflation climbs above 4% for first time in three years as consumer spending stays resilient
US inflation accelerated above 4% for the first time in three years, with the PCE price index rising 4.1% year-on-year in May. Consumer spending remained resilient, increasing 0.7% month-on-month, supported by larger tax refunds and a stock market rally, according to data from the Commerce Department and Reuters.
Jul 8, 2026 1 source
