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High Inflation

All articles tagged with #high inflation

economics1 year ago

"Surprising Surge: US Retail Sales Defy Inflation Concerns"

Despite facing high interest rates and steep prices, Americans increased their spending in March, with retail sales jumping 0.7%, exceeding economists' forecasts. Excluding volatile measurements, sales climbed 1%, but the data is not adjusted for inflation. While consumers continue to spend at gas stations, grocery stores, and online retailers, they pulled back spending at electronics, clothing, and furniture stores. The strong job market and wage increases have supported consumer spending, but economists anticipate caution as student loan payments resume and credit card debt reaches record levels.

via Fox Business|
#consumer-debt#consumer-spending#economic-outlook
wealth-and-income-inequality1 year ago

"The Rising Bar for Joining the World's Richest 1%"

In the U.S., the threshold to join the top 1% of wealth has risen to $5.8 million, a 12% increase from the previous year, while Monaco requires a staggering $12.9 million. Other countries with high thresholds include Luxembourg and Switzerland. As high inflation and rising interest rates continue to impact lower- and middle-income Americans, a recent study shows that a six-figure salary is losing its purchasing power, especially in expensive cities. Meanwhile, the wealthiest 400 Americans have seen their net worth soar to a collective $4.5 trillion, marking the highest level since 2021.

via Fox Business|
#global-wealth-distribution#high-inflation#net-worth