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U.S. Consumers Boosted Spending in March

April 29, 2022

Consumers spent more in March, showing American households are absorbing high inflation and are positioned to propel the economy heading into the spring and summer.

Personal-consumption expenditures increased a seasonally adjusted 1.1% in March from the prior month, the Commerce Department said Friday. Adjusting for inflation, consumer spending rose 0.2% last month, driven by higher services spending. Household spending also rose at a faster rate than inflation from a year earlier.

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