Inflation Stagnates Despite Rise in Consumer Spending

U.S. consumer spending rose slightly more than anticipated in October, continuing the economy's stable growth into the fourth quarter. Inflation control efforts have stalled amid expected tariff hikes from the Trump administration, potentially affecting future interest rate cuts by the Federal Reserve.

In October, U.S. consumer spending increased more than expected, maintaining the economy's growth momentum into the fourth quarter.

However, efforts to control inflation have faltered, with potential tariff hikes from the Trump administration adding to economic concerns and posing challenges for future Federal Reserve interest rate cuts.

Significant factors impacting consumer spending include strong demand for services, along with stable household incomes and high savings rates.

(With inputs from agencies.)