Americans are starting to see some relief from higher gas prices, while in Utah, housing is showing signs of recovering.
U.S. consumer prices were flat in April, largely because of a decline in gas prices, the Commerce Department said Tuesday. Lower prices at the pump may be combining with steady job growth to power more spending on big purchases.
Sales of autos, furniture and electronics all rose in April. And Americans spent more at restaurants and bars — generally a sign of confidence in the economy.
In Utah, consumer prices increased 0.7 percent from March, driven by a sharp 1 percent jump in the cost of housing, suggesting the housing market is healing. Rental rates and hotel prices increased strongly, according to the Zions Bank Wasatch Front Consumer price Index.
Despite the strength in key areas, overall retail sales in the U.S. increased just 0.1 percent last month. That modest gain followed two stronger months in February and March. Salt Lake Tribune
