May 15, 2012 — Dropping gas prices helped hold inflation down. Meanwhile, April consumer spending may have been slowed because warm weather in March encouraged folks to get out their wallets then.
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Consumer Prices, Consumer Spending Both Flat In April
by Mark Memmott
May 15, 2012 — Dropping gas prices helped hold inflation down. Meanwhile, April consumer spending may have been slowed because warm weather in March encouraged folks to get out their wallets then.Two bits of economic news this morning:
— Consumer prices overall were unchanged in April, the Bureau of Labor Statistics reports, thanks in large part to a 2.6 percent drop in the price of gasoline.
— Consumer spending rose just 0.1 percent in April from March, the Census Bureau says. According to Bloomberg News, some of the slowdown in spending growth may have been because unusually warm weather and pre-Easter shopping pushed March sales up more than expected.
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