U.S. consumer spending cools; inflation stays near Fed goal

U.S. CONSUMER SPENDING rose at its slowest pace in six months in August, while inflation remained muted, although this New Orleans ice cream shop seemed to be doing well in June. / BLOOMBERG NEWS FILE PHOTO/AKASHA RABUT
U.S. CONSUMER SPENDING rose at its slowest pace in six months in August, while inflation remained muted, although this New Orleans ice cream shop seemed to be doing well in June. / BLOOMBERG NEWS FILE PHOTO/AKASHA RABUT
WASHINGTON – U.S. consumer spending rose in August at the slowest pace in six months, moderating from more robust readings on the biggest part of the economy. Inflation remained near the Federal Reserve’s target pace. Purchases, which account for about 70 percent of the economy, rose 0.3 percent from the prior month, slowing from 0.4 percent…

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