U.S. consumer spending rose by an inflation-adjusted 0.3 percent in September, led by increased spending on health care services and motor vehicles.
The Commerce Department also said Monday that the Federal Reserve’s preferred measure of inflation returned to the central bank’s 2 annual percent target after having been slightly elevated in prior months. In addition, personal incomes rose 0.2 percent in September — the smallest gain since June 2017. Roughly half of that increase was wiped out by inflation.
