Consumer spending rebounds despite rising October inflation

    WASHINGTON (AP) — U.S. consumer spending rebound in October, rising by a solid 1.3%, but inflation was up as well, rising over the past year at the fastest pace in more than three decades.

    The jump in consumer spending last month was double the 0.6% gain in September, the Commerce Department reported Wednesday.

    Consumer prices were up 5% compared to a year ago, the fastest 12-month gain since the 12 months ending in November 1990.

    More from News of the North

    Comments

    Add a comment

    Log in to the club to add your comment.

    Current Conditions

    Crude Oil Price