Inflation Trumps Prospects

The good: Consumer spending rose in Feb for an 8th consecutive month, spending rose 0.7% in February after a 0.3% increase in January. The Bad: Adjusted for inflation, consumer spending was up just 0.3% last month after being flat in Jan. The Ugly: inflation accelerated at its fastest rate since June ‘09 and the data provide more evidence that higher prices for food and energy are depressing economic growth.

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