U.S. consumer spending, inflation rose in July; Incomes cooled

UNITED STATES purchases, which account for about 70 percent of the economy, rose 0.4 percent from the prior month for the second straight time, while incomes advanced 0.3 percent, less than projected. / BLOOMBERG NEWS
UNITED STATES purchases, which account for about 70 percent of the economy, rose 0.4 percent from the prior month for the second straight time, while incomes advanced 0.3 percent, less than projected. / BLOOMBERG NEWS
NEW YORK - United States consumer spending extended gains into July and inflation rose to a six-year high, reflecting economic strength that should keep Federal Reserve policy makers on track to keep gradually raising interest rates. Purchases, which account for about 70 percent of the economy, rose 0.4 percent from the prior month for the…
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