(Bloomberg) -- U.S. inflation-adjusted consumer spending rose in April by the most in three months, indicating households were holding up in the face of persistent, yet moderating, price pressures.

Purchases of goods and services, adjusted for changes in prices, increased 0.7% from March, Commerce Department data showed Friday. Both goods and services spending advanced in April.

The personal consumption expenditures price index, which the Federal Reserve uses for its inflation target, rose 0.2% from a month earlier and was up 6.3% from April 2021. The core PCE price index climbed 0.3% for a third month.

The median forecasts in a Bloomberg survey of economists called for a 0.7% increase in inflation-adjusted spending from the prior month and a 6.2% rise in the price index from April 2021.

Unadjusted for inflation, spending rose 0.9% from the prior month, while personal income climbed 0.4%.

The figures underscore forecasts for spending to stay healthy during the second quarter as consumers remain backstopped by solid job growth and accumulated savings. The deceleration in inflation during the month partly reflected a drop in gasoline prices.

Household purchases are nonetheless at risk of moderating as gas prices are now back at record highs and grocery bills take a bigger toll on budgets.

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