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US Consumer Spending Falls in January; Monthly Inflation Rises

A rise in inflation could provide the Federal Reserve with a reason to delay interest rate cuts, despite economic concerns and slowing growth.
A fashion retail worker on the shop floor.
Consumer spending, which accounts for more than two-thirds of US economic activity, dropped 0.2 percent last month. (Pexels)

US consumer spending unexpectedly fell in January, but a pick up in inflation could provide cover for the Federal Reserve to delay cutting interest rates for some time.

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