May consumer spending flat; incomes fall and prices jump

U.S. CONSUMER SPENDING was flat in May while incomes dropped for a second month as the impact of the government’s individual impact payments waned. / AP FILE PHOTO/NAM Y. HUH
WASHINGTON (AP) – Consumer spending was flat in May with incomes dropping for a second month as the impact of the government's pandemic stimulus payments waned. Inflation, however, posted a sizable gain of 0.4%. Consumer spending was unchanged in May, a marked slowdown following gains of 0.9% in April and a 5% surge in March…

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