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Tuesday, July 31, 2007

U.S. June Personal Spending Rises 0.1%; Core Prices Up 0.1%

" Consumer spending in the U.S. increased in June at the slowest pace in nine months as near-record gasoline prices and falling home values forced Americans to cut back.

The 0.1 percent rise in spending followed a 0.6 percent increase in May, the Commerce Department said today in Washington. The Federal Reserve's preferred measure of inflation rose less than forecast. "

Source: U.S. June Personal Spending Rises 0.1%; Core Prices Up 0.1% (http://www.bloomberg.com/apps/news?pid=20601087&sid=a8.tDAi8zqwg&refer=home)