There’s lots of consumer data today. The US household income and spending data is the highlight, since the ability of American consumers to absorb the inflationary shock without giving up on purchases is essential to the health of the economy. Today’s Commerce Department data shows that US inflation-adjusted consumer spending fell in May for the first time this year, due to persistently high inflation. Real Disposable personal income decreased 0.1 percent in May and Real personal consumption expenditures decreased 0.