Manama: US consumer spending reached its highest level in four months.
According to Bahrain News Agency, the report indicated that rising service costs, particularly financial services following the stock market recovery, pushed inflation higher.
The Bureau of Economic Analysis said consumer spending increased by 0.5% in July after a 0.4% rise in June. The personal consumption expenditures price index rose 0.2% in July after a 0.3% increase in June.