economy

December consumer spending declines; recession concerns remain

PROMO Economy - Sign Economic Uncertainty Ahead Inflation - iStock - ronniechua

(The Center Square) - Consumer spending fell 0.2 percent in December from the previous month, the Commerce Department said Friday. 

From the same month one year ago, the PCE price index - a closely watched measure of inflation - for December increased 5 percent. Prices for goods increased 4.6 percent and prices for services increased 5.2 percent.

Rural Americans aren’t included in inflation figures – and their cost of living may be rising faster

PROMO 64J1 Finance - Inflation Graph Chart Increase Rise Percent - iStock - G0d4ather

When the Federal Reserve convenes at the end of January 2023 to set interest rates, it will be guided by one key bit of data: the U.S. inflation rate. The problem is, that stat ignores a sizable chunk of the country - rural America.