Consumer spending decreased in July as inflation pressures persisted. According to new data from the Department of Commerce, inflation-adjusted consumer spending did not change from the previous month. This marks a significant slowdown from the 0.4% increase in June.

The personal consumption expenditures price index, which is used by the Federal Reserve to measure inflation, rose 0.2% from June. The annual rate remained at 3.7%. Economists had expected a smaller increase in the index and a lower annual rate.

Further details on the consumer spending and inflation data are available from the source. The report provides more information on the current state of consumer spending and inflation.