U.S. consumer spending rises modestly, inflation cools

[McFurd]

Yahoo Finance - Reuters - 6/30/2017 - Jason Lange - WASHINGTON (Reuters) - U.S. consumer spending rose modestly in May and inflation cooled, pointing to a slow-but-steady economic expansion that could still lead the Federal Reserve to raise interest rates by the end of the year. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.1 percent last month, the Commerce Department said on Friday. Consumer prices excluding food and energy rose 1.4 percent on a yearly basis, compared to a 1.5 percent gain in April. Read more @ https://finance.yahoo.com/news/u-consum ... 52797.html