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US consumer spending unexpectedly fell in January, but a pick up in inflation could provide cover for the Federal Reserve to delay cutting interest rates for some time.
Consumer spending, which accounts for more than two-thirds of US economic activity, dropped 0.2 percent last month after an upwardly revised 0.8 percent increase in December, the Commerce Department’s Bureau of Economic Analysis said on Friday.
Economists polled by Reuters had forecast consumer spending gaining 0.1 percent…
