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US Consumers Boosted Their Spending by 0.5 Percent in April


US Consumers Boosted Their Spending by 0.5 Percent in April
WASHINGTON Americans increased their spending by 0.5 percent in April, a slowdown after a massive gain in March that had been powered by the distribution of billions of dollars in individual stimulus checks.
Even with the pullback from a 4.7 percent surge in spending in March, the April increase provided further evidence that consumers are driving a strengthening recovery from the pandemic recession.
Friday’s report from the Commerce Department also showed that personal incomes, which provide the fuel for spending, tumbled 13.1 percent in April. But the drop in income was expected, having followed a record 20.9 percent income gain in March that reflected the billions in one-time checks to most adults. ....

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Edible oil goes up from Rs 80 to Rs 180, touches 11-year high | Mumbai News


Prices of edible oil have reached an 11-year high, prompting the Centre to take stock of the situation
MUMBAI: Prices of edible oil have reached an 11-year high, prompting the Centre to take stock of the situation. India imports 65% of the edible oil consumed in the country. A global shortfall in production, as well as hefty government duties, both here and abroad, are to blame for the price rise.
Rates of sunflower, soya and mustard oil have all increased at a fast rate since 2020 from about Rs 80 to Rs 180 per litre. Consumers whose incomes have dropped owing to the pandemic lockdown, are weighed down by this additional burden. ....

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