Inflation may be continuing to cool but there’s also a chill running through the American consumer, the latest report from the Commerce Department shows. And after a January surge, consumer spending growth has trailed off considerably. Inflation-adjusted consumer spending has fallen for four of the past five months, he said. Separately on Thursday, the University of Michigan released its final consumer sentiment report for April. “The mild recovery in consumer sentiment we saw last fall and winter appears to have stalled.

Source: CNN April 28, 2023 14:09 UTC