US consumer spending barely rose in February against a backdrop of persistent inflation that’s set to accelerate due to the Iran war. Inflation-adjusted consumer spending increased 0.1% after stagnating in January, continuing an extended period of lackluster demand, a report from the Bureau of Economic Analysis showed Thursday. The so-called core personal consumption expenditures price index, which excludes food and energy items, increased 0.4% from January. From the prior year, the Federal Reserve’s preferred gauge of underlying inflation advanced 3%. Spending on goods rose for the first time in three months, driven ... (full story)