WASHINGTON - Consumer spending slowed in April while inflation was up, but still far below the target set by the Federal Reserve. The Commerce Department said Friday that spending increased 0.3% in April following a 1.1% surge in March that had been the largest increase in nearly a decade. Inflation, as measured by a gauge tied to consumer spending, increased 1.5% in April compared with a year ago, up slightly from a 1.4% 12-month change in April. The Fed tries to manage interest rate policy to achieve annual price gains of 2%. With incomes rising faster than spending, the saving rate increased to 6.2% of after-tax income in April, up from 6.1% in April.

Source: thestar May 31, 2019 13:07 UTC