WASHINGTON (Reuters) -U.S. consumer spending increased slightly more than expected in August, keeping the economy on solid ground as the third quarter progressed, while inflation continued to rise at a measured pace.

Consumer spending, which accounts for more than two-thirds of economic activity, rose 0.6% last month after an unrevised 0.5% advance in July, the Commerce Department’s Bureau of Economic Analysis said on Friday.

Economists polled by Reuters had forecast consumer spending increasing 0.5% after a previously reported 0.5% gain in July.

Spending has marched ahead despite a significant labor market slowdown, marked by stall-speed job growth in the last three months. It is being driven by high-income households as a robust stock market and still-elevated home prices boost their

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