Consumer spending grew in April at the fastest pace in three months, supported by solid income growth. But in a worrisome development, a key gauge of inflation watched by the Federal Reserve posted the biggest increase in 13 months.
The Commerce Department reported Friday that consumer spending jumped 0.6 percent last month, the best showing since a 0.8 percent rise in January, while incomes rose by 0.5 percent, supported by strong wage and salary gains.
