If you tried to find a parking space at your local mall at any time last month, you might think that Americans were in a spectacular shopping frenzy. That may have been the case, but consumers’ total spending across the whole economy was down in December, falling further than government economists had expected it to. [More]
Even though gas prices keep rising, businesses haven’t been sticking customers with price hikes. In fact, the bear economy has staggered the Consumer Price Index once again, with the index rising only 0.1 percent in May. The miniscule, less-than-expected increase, following a flat April, means that prices were 1.3 percent lower in May than they were a year ago — the largest year-over-year drop since 1950.