In this photo taken Tuesday, June 9, 2015, shopper Julian Fojon-Losada, of Georgia, checks a coconut at a local fruit store in the Little Havana area of Miami. (AP Photo/Alan Diaz)
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U.S. consumer spending recorded its largest increase in nearly six years in May on strong demand for automobiles and other big-ticket items, further evidence that economic growth was accelerating in the second quarter.The strengthening economy suggests the Federal Reserve could raise interest rates this year even as inflation remains well below the U.S. central bank's 2 percent target.The Commerce Department said consumer spending rose 0.9 percent last month, the biggest gain since August 2009, after a 0.1 percent rise in April.May's sturdy increase in consumer spending, which accounts for more than two-thirds of U.S. economic activity, suggested households were finally spending some of the windfall from lower gasoline prices, and capped a month of solid economic reports.Economists had forecast consumer spending rising 0.7 percent last month.When adjusted for inflation, consumer spending increased 0.6 percent, the largest jump since last August, after being unchanged in April.
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