US Consumer Spending Slows in April as Inflation Drops to Four-Year Low

Data shows that after experiencing the strongest month of spending since the beginning of 2023, U.S. consumers began to slow down their spending in April, while inflation remained moderate, consistent with the economic slowdown. Data on Friday showed that the U.S. real personal consumption expenditures monthly rate increased by 0.1% in April after growing by 0.7% in the previous month. The U.S. core PCE price index monthly rate rose by 0.1% compared to the previous month. Compared to the same period last year, the U.S. core PCE price index annual rate recorded 2.5% in April, marking the smallest annual increase in more than four years.