Core Inflation hits 2.9% But Spending Surges: What It Means for Your Wallet
July’s inflation report shows prices climbing 2.6% year-over-year, with core inflation—excluding food and energy—ticking up to 2.9%, the highest since February. But beyond the headlines, consumer spending jumped 0.5%, the strongest gain since March, while personal incomes rose 0.4%. In short: despite tariffs, high rates, and a dip in sentiment, Americans are still spending. So…