Consumer spending

US consumer spending rose in August as gas prices fell | CNN Business

US consumer spending rose in August as gas prices fell | CNN Business

CNN Business  —  Another month of falling gas prices gave Americans’ wallets a bit of a reprieve in August. That sent consumers back to stores last month. The Census Bureau reported Thursday that a key measure of August US retail sales rose unexpectedly by 0.3% on a monthly basis, following a revised decrease of 0.4% …

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Cheaper electric vehicles coming despite rising battery costs

Cheaper electric vehicles coming despite rising battery costs

WARREN, Mich. (AP) — Even though battery costs are rising, auto companies are rolling out more affordable electric vehicles that should widen their appeal to a larger group of buyers. The latest came Thursday from General Motors, a Chevrolet Equinox small SUV with a starting price somewhere around $30,000 and a range-per-charge of 250 miles …

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Bank of America's new home loan program lets borrowers buy homes in select cities with 0% down and no closing costs

Bank of America’s new home loan program lets borrowers buy homes in select cities with 0% down and no closing costs

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. Bank of America is launching a new mortgage product that would allow first-time homebuyers to purchase …

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US retail sales were flat in July as inflation takes a toll

US retail sales were flat in July as inflation takes a toll

WASHINGTON — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously. Retail purchases were flat after having risen 0.8% in June, the Commerce Department reported Wednesday. Economists had expected a slight increase in July retail sales. Still, Wednesday’s …

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The DOT is proposing new protections for flyers, including cash refunds for canceled flights

The DOT is proposing new protections for flyers, including cash refunds for canceled flights

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. For decades, it has been notoriously difficult for travelers to get a refund from an airline …

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70% of Americans think a recession is coming: Here’s what they are doing to prepare

70% of Americans think a recession is coming: Here’s what they are doing to prepare

Woman on her back pushing shopping cart in supermarket aisle David Espejo | Getty Images Experts are weighing the odds as to how likely a recession is and how fast it could come upon us. Most Americans — 70% — already believe an economic downturn is on its way, according to a new survey from …

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Hot inflation data points to a record-high Social Security cost-of-living adjustment in 2023. Some want to change how increases are measured

Hot inflation data points to a record-high Social Security cost-of-living adjustment in 2023. Some want to change how increases are measured

Image Source | Getty Images New government inflation data came in hotter than expected last week. If record-high prices don’t subside, that will lead to a higher Social Security cost-of-living adjustment in 2023. Yet even with a more generous boost to benefits next year, there’s a growing campaign to change the way those annual benefit …

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Consumers changing eating, shopping habits as inflation pushes up prices

Consumers changing eating, shopping habits as inflation pushes up prices

A man shops for meat at a Safeway grocery store in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Jim Watson | AFP | Getty Images The highest inflation in roughly 40 years is prompting people to shift their shopping habits, especially at the grocery …

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