Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report Friday.Retail sales slipped 0.9% for the month from an upwardly revised 0.7% gain in December, even worse than the Dow Jones estimate for a 0.2% decline. The sales totals...
Category: Economy
Trump’s Mexico and Canada tariffs could add nearly $6,000 to the average cost of a car, by one estimate
In an aerial view, Chevrolet cars and trucks are on display at Novato Chevrolet on Jan. 28, 2025 in Novato, California.Justin Sullivan | Getty ImagesAmericans shopping for cars may need to fork over thousands more if President Donald Trump's proposed tariffs go into effect, according to data from investment bank...
A record number of consumers are making minimum credit cards payments as delinquencies also rise
In this photo illustration the Visa, Mastercard and American Express logo on various credit cards and debit cards are seen beside US one dollar bills on January 4, 2025 in Somerset, England. Anna Barclay | Getty ImagesConsumer stress has intensified, with an escalating share of credit card holders making only minimum...
Home insurance costs soaring as climate-related events surge, Treasury Department says
A firefighter douses flames during the Eaton fire in Pasadena, California on January 08, 2025. Josh Edelson | Afp | Getty ImagesClimate-related natural disasters are driving up insurance costs for homeowners in the most-affected regions, according to a Treasury Department report released Thursday.In a voluminous study covering 2018-22 and including some...
Core inflation rate slows to 3.2% in December, less than expected
Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation, particularly on housing.The consumer price index increased a seasonally adjusted 0.4% on the month, putting the 12-month inflation rate at 2.9%, the Bureau of...