gas prices
Inflation likely reached 3-year high last month as Iran war spikes gas prices
WASHINGTON | Consumer prices probably jumped in May for the third straight month, heightening concerns for the inflation fighters at the Federal Reserve and underscoring the threat that rising costs pose for the Trump administration as midterm elections near. Inflation is expected to reach 4.2% in May from a year earlier when the Labor Department […]
Retail sales growth slowed in April from March as higher gas cost leaves less room for nonessentials
NEW YORK | Shoppers pulled back on spending in April as higher gas prices fueled by the Iran war meant less money left over for some nonessentials like clothing and furniture. But economists noted that consumer spending, propped up by generous income tax refunds, is still healthy. Still, they worry that spending will fall off […]