Traders gather on the floor of the New York Stock Exchange Wednesday, Feb. 27. 2008. Wall Street advanced Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank will remain vigilant should inflation accelerate but also would remain open to interest rate cuts to help the economy. (AP Photo/Richard Drew)
Consumer prices made a sharp jump last month rising 1.1 percent, the biggest increase since September of 2005. With consumer earning power down and inflation up many people are looking for ways to save a few dollars. With a close to one percent drop in earnings combined with a 6.6 percent increase in energy costs consumer prices rose at the second fastest pace in 26 years.
The brunt of that cost lay at the feet of energy prices. Even with a strong economy here in Grand Junction consumers are still be weary.
With an increase in core inflation airline ticket prices took a 4.5 percent jump the biggest rise since June of 2001. And while Congress contemplates a second stimulus package consumers look for ways to save some coin.
while rising inflation along with weak growth loom over a slowing economy consumers look for ways to escape the pinch of rising prices and dropping earnings.
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