December 13, 2007
-- by Dave Johnson
I have a question. If I go to the store and spend $10, and the next month the same thing costs $11, is that a 10% jump in retail sales?
Wholesale prices and retail sales jumped in November and jobless claims fell last week.
Wholesale prices shot up 3.2 percent, the biggest jump in 34 years, propelled by a record rise in gasoline prices. Meanwhile, consumers put aside worries about the weak economy in November to storm into the shopping malls, pushing up retail sales by the largest amount in six months.
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