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Rising inflation not stopping consumer spending, new data shows

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WASHINGTON - U.S. consumer spending rebounded by a solid 1.3% in October despite inflation that over the past year has accelerated faster than it has at any point in more than three decades.The jump in consumer spending last month was double the 0.6% gain in September, the Commerce Department reported Wednesday.At the same time, consumer prices rose 5% compared with the same period last year, the fastest 12-month gain since the same stretch ending in November 1990.

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