Household incomes plunged in February in the United States after a January marked by the arrival of new government checks, and their spending also declined due to inclement weather sweeping the country, the commerce department said. Friday.
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Last month, revenues fell 7.1%, as expected, after rising 10.1% in January.
1% decrease in expenses
Consumer spending, which represents more than two-thirds of economic activity in the United States, fell by 1% after a 3.4% jump the previous month, more than expected (-0, 6%).
Cold weather across the country and storms that hit Texas in particular have made it difficult for many people to eat out, order food online or go to stores in the past month.
Household incomes also likely fell from abnormally high levels in January, when the government handed out stimulus checks of up to $ 600 per person that had been recorded in the $ 900 billion economic aid plan. dollars approved by Congress late last year.
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In February, the increase in consumer prices slowed to 0.2% when analysts had expected + 0.3% as last month.
Excluding volatile energy and food prices, so-called core inflation is only 0.1%, in line with expectations.
But inflation accelerated over one year to + 1.6% against + 1.4% recorded in January.
