U.S. consumer spending increases solidly, inflation rising

From reuters.com

U.S. consumer spending rose more than expected in September as households boosted purchases of motor vehicles and inflation increased steadily, which could bolster expectations of an interest rate hike from the Federal Reserve in December. The Commerce Department said on Monday that consumer spending, which accounts for about 70 percent of U.S. economic activity, increased 0.5 percent after a downwardly revised 0.1 percent drop in August. Last month's increase in consumer spending offered a fairly strong handoff from the July-September period to the current quarter. The report was published ahead of the beginning of ... (full story)