Federal Reserve System – Page 56

Consumer Spending Slid Again in December

Fresh data offered more detail on how shoppers retrenched at the end of 2022.

The Personal Consumption Expenditures price index climbed 5 percent from a year earlier, slower than the reading last month.

The continued growth in the fourth quarter showed the resilience of consumers and businesses in the face of rising inflation and interest rates.

After six months of declines, inflation seems to be turning a corner. But the road back to normal is an uncertain one.

At the World Economic Forum, the provocative filmmaker received a warm reception for his film promoting nuclear power.