Consumer Spending Barely Budges After Inflation

Washington, DC, May 1, 2008--WASHINGTON - Soaring prices for food and energy pushed up consumer spending to a faster pace than expected last month.

The Commerce Department said consumer spending was up 0.4 percent in March, double the increase that economists had forecast.

However, after inflation spending edged up just 0.1 percent. That represented the fourth straight modest performance.