The biggest price increase in 40 years! US consumer spending and inflationincreased! (2022-04-29)

Consumer spending rose 1.1% in March, the biggest price increase in 40 years.
Inflation rose 0.9% in March mostly due to gasoline price increase.
The savings rate fell to 6.2% from 6.8%, it is now below pre pandemic levels.
The wages have risen but not as fast as the cost of living.
The consumer price index has risen at an even faster 8.5% pace in the past twelve months.