Geoffrey Smith 

Investing.com — U.S. consumer spending continued in April amid new signs that inflation, at minimum in annual terms has peaked in the current cycle.

rose by a stronger-than-expected 0.9% in the month. This was slower than March. However, March data were revised higher to reflect a 1.4% increase, instead of the 1.1% originally reported.  Even though spending exceeded expectations, personal income growth was slower for the second consecutive month. The income growth was 0.4% less than that of March’s 0.5%. Analysts predicted that income would grow at the same speed.

The annual rate of inflation as measured by fell slightly to 6.3%, from a high of 6.6% 40 years ago. Meanwhile, the index decreased to 4.9%, from 5.2%. The monthly change in s was 0.3%. This is consistent with our expectations.