(MENAFN- AFP) US consumer spending fell slightly in April after March's strong surge, the Commerce Department reported Friday, while incomes kept rising.
As the largest driver of the US economy, consumer spending fell by $9.1 billion last month, or 0.1 percent, following a $120.2 billion increase the previous month.
Spending on durable goods like cars, which drove much of the March gains, contracted, as did spending on services, while purchases of non-durable goods picked up.
Incomes grew by $16.9 billion, or 0.3 percent, after March's 0.5 percent gain.
Inflation, as measured by the personal consumption expenditures (PCE) price index, was stable, rising at a 0.2 percent pace for the second straight month, and was up 1.6 percent from a year ago.
Excluding more volatile food and energy components, the index was also up 0.2 percent month on month and 1.4 percent from April 2013.
That put inflation pressures well below the Federal Reserve's 2.0 percent target for price stability.
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