Consumer spending, after adjusted for inflation, fell 0.2 percent in June as shoppers were hit with the biggest increase in prices in nearly three decades, the Commerce Department reported Monday. Higher gasoline prices helped to drive up an inflation gauge tied to consumer spending by 0.8 percent, the biggest increase since a 1 percent jump in February 1981.
The State Department said further sanctions against Iran will be pursued by the five permanent members of the UN Security Council and Germany after the countries participated in a high-level phone call Monday. Iran failed to meet a weekend deadline related to its suspect nuclear program.
Looking to build Democratic unity, Barack Obama has called for restoration of full voting rights for convention delegates from the key swing states of Florida and Michigan. Obama had previously opposed full votes for these delegates, whose states defiantly held their primary elections too early.