April 12-month consumer inflation hit 3.8%; disposable income, savings drop
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May 28 (UPI) -- The annual inflation rate for the year ending in April climbed to 3.8%, up 0.4% on a month-to-month basis, the Bureau of Economic Analysis reported Thursday. Personal consumption expenditures, the Federal Reserve 's favored economic measure of inflation, increased by 0.5% or $111.1 billion. The Commerce Department said the current-dollar increase reflected a $67.2 billion increase in spending on services and a $44 billion increase in spending on goods by consumers. Personal
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