This week on “Inside the Economy”, we discuss the increase in consumer spending and the uptick in inflation. Inflation has seen a small increase, mainly driven from the current energy sector. There has been an increase in consumer spending, with the fastest pace of consumer spending on record this past March. The question is, will it continue and where is the money coming from? Personal savings has continued to grow to all-time highs as people continue to wait to spend money on travel, entertainment, etc. Tune in to learn about all this and more!
- U.S. Retail Sales rise at second fastest pace on record
- Headline CPI grows higher, driven by energy, yet remains below 2%
- Personal savings continue to grow to all-time highs
- Earnings and profits drive stock market higher