U.S. household incomes fell 1% in September, due to the expiration of more generous unemployment benefits that had been paid since the start of the pandemic, according to data released Friday by the Commerce Department.
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This decline is stronger than expected, since analysts were expecting a decline of 0.2%. Spending, on the other hand, continued to rise, 0.6%, while year-over-year inflation, which had stabilized in August, accelerated again to 4.4%, according to the PCE index, which was released Thursday for the entire quarter.
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