WASHINGTON, Dec 5 — U.S. consumer spending increased moderately in September after three straight months of solid gains, suggesting a loss of momentum in the economy at the end of the third quarter as a lackluster labor market and rising cost of living curbed demand.

The report from the Commerce Department on Friday also showed annual inflation rising at its fastest pace in nearly 1-1/2 years in September. President Donald Trump’s sweeping tariffs on imported goods have raised prices for consumers, though the increase has been gradual.

Trump is taking heat from Americans frustrated over high inflation, with his approval rating declining in recent weeks. A survey from the University of Michigan said the overall tenor of households’ views in early December was “broadly somber as consumers

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