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Gloomy Americans cut back on spending

Gloomy Americans cut back on spending as inflation ticks higher

At the same time, Americans cut back on spending for the first time since January, as overall spending fell 0.1%. Incomes dropped a sharp 0.4%. Both figures were distorted by one-time changes: Spending on cars plunged, pulling down overall spending, because Americans had moved more quickly to buy vehicles in the spring to get ahead of tariffs.

CBS News on MSN · 13h

U.S. inflation ticked higher in May as consumers cut back on spending

New federal data showed that inflation edged up in May, but U.S. prices show only modest impact from U.S. tariffs.

The New York Times · 10h

The Fed’s Preferred Inflation Gauge Was Slightly Hotter in May, as Spending Cooled

Most economists and policymakers are bracing for price pressures to intensify this summer because of President Trump’s tariffs.

9hon MSN

S&P 500, Nasdaq hit record highs as markets rebound from April’s tariff despair

In April, the stock and bond markets were in turmoil after Trump unveiled a more-severe-than-expected tariff plan.

Inflation slightly higher, but Americans haven't seen wave of tariff price increases yet

A recent Bankrate survey found that most Americans think tariffs will be bad for their personal finances. But consumer sentiment has rebounded in the University of Michigan's long-running index after ...

3don MSNOpinion

The Inflation Time Bomb—Trump's Policies Will Hit Your Wallet Soon | Opinion

With inflation hovering modestly above 2 percent despite President Donald Trump 's aggressive tariff increases and ...

10hon MSN

Canada GDP Contraction Likely Continued Through May After 0.1% Fall in April

OTTAWA—Canada’s economy shrank in April and likely did so again in May, leaving it tracking toward a modest contraction for ...

Canada's annual inflation rate at 1.7% in May, unchanged from April

Canada's annual inflation rate in May was unchanged from the previous month at 1.7% as a drop in gasoline costs continued to ...

12d

Is your paycheck keeping pace with inflation? It depends on your job.

The average hourly earnings for private sector workers in Michigan has increased at nearly the same rate as inflation in the ...

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