Prof. Paul Vaaler Interviewed by KAAL News About Consumers’ Current Spending Patterns

Professor Paul Vaaler, John and Bruce Mooty Chair in Law and Business, was interviewed by KAAL News in Rochester about new data that shows retail spending increased in May, even as higher prices continue shaping how people spend their money. Data from the Commerce Department released this week found retail sales rose 0.9% in May. However, the figures were not adjusted for inflation, meaning higher prices likely helped push sales higher. Prof. Vaaler said, “Where people have choices, it looks like they’re tightening up their pocketbook. Where they don’t, they’re spending more ... that could be a function of just the nominal price going up.” Watch the interview.