Inflation picks up in March
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 26 April 2024
⏱️ 1 minutes
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Summary
Stocks close higher; services prices drive 12-month increases; consumer spending up in March; consumer sentiment flat so far this year.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed higher on Friday. |
| 0:05.9 | The Dow Rose 4 tenth percent, the S&P gained 1 percent, and the NASDAQ added 2 percent. |
| 0:18.0 | The price of goods and services rose in March, up 2.7% from the same time a year ago, according to the Bureau of Economic Analysis, |
| 0:20.0 | that's the highest yearly pay since November, |
| 0:22.0 | and 710% above the Federal Reserve's target. |
| 0:25.5 | Most of the increase was because services got more expensive. |
| 0:28.5 | Personal income rose as well, |
| 0:30.4 | up 1.4% of the last year, that's after accounting for higher prices. |
| 0:35.0 | The same report found that consumers spent more in March too. |
| 0:39.0 | Good spending rose the most, that was mostly thanks to spending on gasoline, recreational items, and food. |
| 0:45.0 | And consumers surveyed by the University of Michigan this month were about as confident in the economy as they were in February. |
| 0:51.0 | Consumer sentiment has stayed pretty much the same so far this year. |
| 0:54.2 | I'm Justin Ho with the Marketplace Minute. You're going to. |
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