Today's inflation report casts store sales in different light
People were surprised and heartened by yesterday's retail sales report, which showed an increase of 1 percent in May. Today's inflation report offers a little cold water. Retail inflation was 0.6 percent last month, meaning the real retail sales increase for May was only 0.4 percent. Not bad, and still better than people expected. But not exactly a spending spree. And it was all driven by the one-time stimulus of tax rebates.
Comments
Economic Stimulus. The government should be a leader. All the Economic Stimulus program is teaching anyone is you can spend money you don't have. I don't like the fact that the government is basing the economic stability on borrowing. How about those of us that save money. We get the short end of the stick. We don't get bailed out of bad mortgages, we get low interest rates on savings accounts and CD's.
Posted by: Neil | June 13, 2008 11:13 AM