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US spending rises more slowly in November, inflation highest since 1982

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Washington (AFP) – American consumers ramped up spending in November but at a slower pace than the prior month, while prices continued to march upward, posting the biggest gain since 1982, according to government data released Thursday. Personal consumption expenditures last month rose 0.6 percent or $104.7 billion, less than half the increase in October, with most of the gain going to services, the Commerce Department reported. The small increase in spending on goods was fueled largely by rising gasoline prices, among the most visible of the wave of price increases that have hit the US econom…

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