Inflation, Consumer Spending Cool in December
WASHINGTON — The Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed’s series of interest rate hikes are slowing the economy.
Cyber Monday Sales on Track to Break Record Despite Inflation
U.S. shoppers spent $11.3 billion on Cyber Monday, a robust showing that suggests steep discounts attracted inflation-stung shoppers.
Resilient Consumers Spend Slightly More in August
WASHINGTON — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent and other essentials.
Inflation Slows From 40-Year Peak, but Remains High
WASHINGTON — Falling prices for gas, airline tickets and clothes helped give Americans a slight break from the pain of high inflation last month, though overall price increases slowed only modestly from a four-decade high that was reached in June.
American Consumer Momentum Wanes Just in Time for the Holidays
The American consumer has held strong since last year’s COVID-driven spending pause, as their purchases helped power the global economic recovery. But that momentum may be fading as the holiday season approaches.
Consumers Spending at Fastest Pace BofA CEO Has Seen
The head of the nation’s second-largest bank said consumers are spending “at a faster rate” than he has ever seen, but he remains concerned about how inflation and supply chain issues will influence the economy going into the winter.
Consumer Spending Rebounds in October; Inflation Elevated
WASHINGTON — U.S. consumer spending rebounded in October, rising by a solid 1.3%, but inflation remains elevated, rising over the past year at the fastest pace in more than three decades.
Consumer Spending Slows to 0.3% Gain in July
WASHINGTON — Growth in U.S. consumer spending slowed in July to a modest increase of 0.3% while inflation over the past 12 months rose to the fastest pace in three decades.
Consumers Boost Spending 1% as Inflation Remains High
WASHINGTON — American consumers increased their spending by 1% in June — a dose of energy for an economy that is quickly rebounding from the pandemic recession but is facing new risks led by the delta variant of the coronavirus.
Consumer Spending Flat in May
WASHINGTON — Consumer spending was flat in May while incomes dropped for a second month as the impact of the government’s individual impact payments waned. Inflation, however, posted a sizable gain of 0.4%.