living

December consumer spending declines; recession concerns remain

PROMO Economy - Sign Economic Uncertainty Ahead Inflation - iStock - ronniechua

(The Center Square) - Consumer spending fell 0.2 percent in December from the previous month, the Commerce Department said Friday. 

From the same month one year ago, the PCE price index - a closely watched measure of inflation - for December increased 5 percent. Prices for goods increased 4.6 percent and prices for services increased 5.2 percent.