By Alicia Wallace, CNN
(CNN) — US consumers continued to spend in June despite tariff-related price hikes.
Consumer spending rose 0.3% from May, according to Commerce Department data released Thursday.
The Personal Consumption Expenditures price index — the inflation gauge the Federal Reserve uses for its 2% target rate — rose 0.3% on a monthly basis, which lifted the annual rate to 2.6%, the highest since February.
Economists were expecting PCE to rise 0.3% from May and accelerate on an annual basis to 2.5%.
This story is developing and will be updated.
The-CNN-Wire™ & © 2025 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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