In September, the producer price index, a measure of wholesale inflation, rose 0.4%, which was worse than analysts expected. For the 12-month period, prices were up 8.5%.
Inflation at the retail level was a similar story. For September, the consumer price index was up 8.2% year-over-year.
Consumer spending was flat in September, according to the Commerce Department, even as prices increased.
Recent data from J P Morgan Chase indicates that consumers’ spending is currently outpacing their income, and their savings are dwindling as a result.
The Conference Board released a survey last week of CEOs showing a nearly unanimous view among the group that a recession is looming.
Small business owners continue to be pessimistic overall, according to the September Small Business Optimism Index.
Small Business Saturday is just around the corner, on November 26, two days after Thanksgiving. In 2021, U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday spent an estimated $23 billion.
FEATURE – 3 Key Steps to Better Cyber Security
Today’s guest is Kevin Beaver, author of Hacking for Dummies and owner of Principle Logic:
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