Wholesale Prices Dip, Retail Sales Tumble

[applegrove]

Now that the economy is being kept afloat by workers loosing work and some IT people loosing salary... this helps the rich stay in boom times by fighting inflation.

When are the rich going to fork over a transfer of wealth for the good of the country? What would be the fare share for the rich to do? What are they giving up?


Wholesale Prices Dip, Retail Sales Tumble

By MARTIN CRUTSINGER

Tue Jun 14, 6:50 PM ET

http://news.yahoo.com/s/ap/20050614/ap_on_bi_go_ec_fi/economy;_ylt=AssTJptEMA.x3qikE1L4yB9I2ocA;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl

"WASHINGTON - Wholesale prices fell by the largest amount in more than two years in May, helping to ease concerns that a big spike in energy costs earlier in the year might spell inflation troubles.

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Meanwhile, May retail sales tumbled by the largest amount in nine months, a decline that was blamed on unusually cool weather during the month and not seen as evidence that consumer spending, the engine that drives the economy, was threatening to sputter out.

The Labor Department reported Tuesday that wholesale prices fell by 0.6 percent last month with three-fourths of the drop attributed to falling energy prices. Foods costs also fell during the month, thanks to a big drop in vegetable prices.

Outside food and energy, so-called core inflation was contained as well, edging up just 0.1 percent, compared to a 0.3 percent increase in April. ......"

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