US Consumer Spending Surges, Consumer Prices Crash Following Inflation

American consumer spending grew at a steady rate last month following an inflation surge, enabling the nation’s economy to revert from yet another winter breakdown. However, consumer prices dropped and investors took it as a sign of intrinsic weakness, which could hamper the Fed’s possible move towards an interest rate hike anytime soon. On the other hand, personal consumption rates surged by 0.3% following two months’ worth of consecutive drops in value according to the US Commerce Department.