U.S. consumer spending rose by 2.1 percent in January, despite mounting price pressures, annual inflation rates at a 40-year high, and while Americans have dealt with the spread of the Omicron coronavirus variant, according to the Feb. 25 report by the Bureau of Economic Analysis.
The numbers are a major improvement from December 2021, as spending bounced back from a revised 0.8 percent decline at the end of the year.
