Consumer Prices, Consumer Spending Both Flat In April
Two bits of economic news this morning:
-- Consumer prices overall were unchanged in April, the Bureau of Labor Statistics reports, thanks in large part to a 2.6 percent drop in the price of gasoline.
-- Consumer spending rose just 0.1 percent in April from March, the Census Bureau says. According to Bloomberg News, some of the slowdown in spending growth may have been because unusually warm weather and pre-Easter shopping pushed March sales up more than expected.