Tag Archives: gas prices
Personal disposable incomes dropped 0.2% both before and after adjusting for inflation in October. That was despite the end of government furloughs, which took place in July and August. Moreover, government workers who were forced to work without pay or were sent home during the government shutdown were paid retroactively.
Housing starts rose to a 896,000-unit rate in July, a sharp rebound from the rain-suppressed 846,000-unit rate of June. All of that gain was concentrated in multi-family units, which increased to 290,000 units from an almost anemic 231,000 unit pace in June. Single-family starts, where the real action in job creation and consumer spending can [...]
The producer price index (PPI) flatlined in July after surging 0.8% in June. Food prices were flat and energy prices declined slightly, with a drop in natural gas and other energy prices offsetting continued increases in prices at the pump. Prices excluding food and energy edged up a modest 0.1%. Prices of intermediate goods were [...]
Retail sales dropped 0.4% on a drop in vehicle sales and falling prices at the pump. This suggests that much of the rise in vehicle sales that we saw in March was due to a recovering housing market or to business investment rather than pent-up consumer demand. Pickup trucks are the workhorses of the single-family [...]
The Consumer Price Index (CPI) jumped 0.7% in February; almost three quarters of that gain can be attributed to a 9.1% surge in gasoline prices, which has since been reversed. We also saw increases in other energy measures that pushed up consumer prices during the month. Increases in food prices were much more benign;
The producer price index (PPI) jumped 0.7%, on an outsized, 3% monthly surge in energy prices. Prices excluding food and energy rose a more moderate 0.2%. Food prices actually declined during the month; prices for fresh and dry vegetables plummeted 18%. Many in the food-producing industry have complained that they have been unable to fully [...]
Consumer Shows Resilience in February Retail sales rose 1.1% in February, after being revised up in January. This gives credence to some of the recent strength in the broader stock indices and the importance to most households of rising housing prices. The increases in home prices have boosted household wealth and allowed consumers to spend [...]
Personal disposable incomes contracted at a whopping 4% monthly pace in January in response to a combination of hedging on tax hikes in December (which pulled income from January into December) and actual tax hikes on January 1. The expiration of the payroll tax holiday was a particularly large hit at the start of the [...]
The consumer price index (CPI) was unchanged and continued to decelerate on a year-on-year basis in January. Almost all of the weakness in inflation, however, may be attributed to falling energy prices, particularly at the gas pump; those prices have done a 180-degree turnaround, rising since the survey was taken and crimping already-pinched consumer finances.
Retail sales rose a tepid 0.1% in January, as declines in vehicle and furniture sales offset increases elsewhere. Much of the strength in retail spending at the end of 2012 was concentrated in vehicles and big-ticket items as victims of Superstorm Sandy began the process of repairing and replacing damaged cars, furniture and appliances. Spending [...]