Consumer News: Consumer spending on the rise, oil prices jump and more!
CNN– American consumer spending jumped in the month of January. Spending increased by 2.4% last month, the biggest jump since June, thanks to stimulus checks. Incomes also rose 10% in January, which is the biggest increase since April of last year.
Also on the rise, is the price of oil. Experts say the price is up nearly 70% since the election. Analysts say the main reason for the increase is optimism that the worst of the pandemic is over, and Americans will begin traveling again. Prices at the pump have also climbed 27% since the election. According to AAA, the national average for gas is $2.70 cents a gallon.
The Food and Drug Administration is warning about hand sanitizers sold in packaging that look like foods or drinks. The FDA has found sanitizer packaged in beer cans, vodka bottles and even children’s foods and juices. One product even featured popular characters from “Paw Patrol” and “Minions.” Ingesting alcohol-based hand sanitizer can cause nausea or vomiting. In children, ingesting even a small amount could cause alcohol poisoning.
Walmart is dropping the $35 minimum fee for express deliveries. The change took effect Monday. Walmart said it’s scrapping the minimum because customers said they needed items quickly that didn’t meet the minimum. Walmart says nearly 3,000 stores offer express delivery as an option, reaching nearly 70% of the U.S. population.
