Skip to comments.U.S. consumer spending dips; inflation creeps up
Posted on 05/30/2014 6:28:09 PM PDT by Red in Blue PA
WASHINGTON (Reuters) - U.S. consumer spending fell for the first time in a year in April after two months of solid gains, but the decline is likely temporary given a strengthening jobs market.
The Commerce Department said on Friday consumer spending dipped 0.1 percent, which was the first decline since April 2013. But the drop followed an upwardly revised 1.0 percent jump in March that was the largest gain since August 2009.
"The disappointing spending report should be viewed in the context of a stronger handoff into the second quarter," said Gennadiy Goldberg, an economist at TD Securities in New York. "We look for ongoing labor market progress to encourage further growth in consumer spending."
(Excerpt) Read more at finance.yahoo.com ...
For things I purchase, the last few years have been the worst for inflation that I can recall going back to the 50s.
I forgot to add that includes the Jimmy Carter “Misery Index” years.
“Dips”? How ‘bout “Tanks”?
I’m so sick of lying, scheming media lapdogs and their State propaganda masters...
Who knew adding gasoline to a fire could cause trouble! ;-)
Apparently, they think that spouting gibberish will help.
If consumption is down, then why are prices up?
“Free Market”, my ass.
Inflation “creeps” up.
Like Godzilla “creeping up” upon a Japanese town.
The economy is dying. Production of goods and services is down, but the production of money is up (QEI, QEII, QEInfinity....). More money chasing fewer goods, and you get rising prices -- inflation.
The point in time has arrived that no one believes the government’s lies except their paid liars .... and of course the MSM which are not technically government paid liars.
FWIW, my take is this: What is driving prices higher is ‘cost-push’ inflation, that is, the cost of making a product keeps going up, and therefore the retail price must also rise in order to maintain a profit.
Of course the Fed’s easy money policy helps to fuel higher prices as well.
This caca reminds me of the glowing reports about the wheat harvests in the Soviet Union.
“Who knew adding gasoline to a fire could cause trouble!”
Fox news reader on the radio breathlessly announcing the imposters new EPA regulation today as the cure all to our carbon problem...this is going to bump up the price of everything just a little bit more.
It was inevitable under Obamanomics.
Next winter may be very interesting—something to try to get very ready for. People would have to be very ignorant or crazy to spend anything frivolously now.
In the meantime,the admnistration will be telling us(or trying to)S.S. recipients that inflation has been very low,so no raises.
Fire up the printing presses and keep the party on Wall ST. going!
So correct me if I am wrong. The actual decline was greater than one full percent? They raised March up 1% to what? It never says or is so poorly written that it is impossible to understand.
April’s decline should be temporary, as we strengthen to negative ten percent growth in May and June.
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