WRAPUP 1-US consumer spending accelerates; monthly inflation rates cooling

U.S. consumer spending increased by the most in six months in July as Americans bought more goods and services, but slowing monthly inflation rates cemented expectations that the Federal Reserve would keep interest rates unchanged next month. The report from the Commerce Department on Thursday suggested the economy gathered momentum early in the third quarter. Consumer spending is being supported by a tight labor market, with other data showing first-time applications for unemployment benefits unexpectedly falling last week.