Personal Spending Rises 0.6% in June; Prices Jump

[Stay on top of transportation news: .]

Consumer personal spending rose 0.6% in June as prices soared, the Commerce Department said Monday.

The spending increase followed a 0.8% rise in May. Incomes rose 0.1%, following a 1.8% jump the previous month, Commerce said.

Consumer inflation rose 0.8%, the most in almost three years, the department said.

Economists had forecast a 0.4% rise in spending, Bloomberg reported.



An increase in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.

Trending

Newsletter Signup

Subscribe to Transport Topics

 

Hot Topics