Americans barely increased spending in May and choose to save more money instead even as decelerating inflation gave them more bang for the buck.
Consumer spending rose 0.1% last month after back-to-back 0.4% gains in April and March, the Commerce Department reported Friday. That matched the Marketwatch forecast of economists.
The meager increase in spending took place against a backdrop of slowing inflation.
PG View: Not typically an environment where the central bank would be tightening policy.