On September 30, U.S. consumer spending grew at its fastest pace in over a year in August, continuing to drive the economy amid persistent inflationary pressures. According to data released by the U.S. Bureau of Economic Analysis on Wednesday, inflation-adjusted personal spending increased by 0.6% month-over-month in August, marking the largest single-month increase since March 2025. The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures Price Index (PCE), rose by 0.3% month-over-month in August. Excluding food and energy, the core PCE price index increased by 0.2%. (Jin Shi)
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