WASHINGTON - Consumer spending increased 0.4% in May, a modest gain that suggests Americans remain confident enough about the economy’s outlook to keep shopping. The spending gain in April was revised slightly higher to 0.6%. Core inflation, which excludes the volatile food and energy categories, rose 1.6% last month, the same as in April. “Overall, consumers are holding tough, while the recent dip in core inflation looks to have stalled,” said Sal Guatieri, senior economist at BMO Capital Markets. Core inflation has slowed from a pace of 1.8% in January.

Source: thestar June 28, 2019 13:41 UTC