The fifth National Climate Assessment says climate change will continue to nudge household spending higher in many categories — including health, food and home repair.

Fuel costs are down but may rise again soon.

Average hourly earnings rose 4.1% year-over-year in October; the rate peaked near 6% in March 2022. The slowdown in wage growth is helping the Fed wrestle inflation lower.

The National Retail Federation predicts at least $957 billion in sales this holiday season. But that might not mean everyone is splurging.

In one poll, 44% of respondents say they’re stressed about the economy. Meanwhile, 34% say they’re optimistic.

The employment cost index, a favorite Federal Reserve data point, captures the cost of employing people, including benefits.

Rising costs for prescriptions and hospital services were felt in latest PCE report, though health inflation has been mild in the past year.

The consumer price index and the personal consumption expenditures price index measure the changing cost of different baskets of goods.

Goods inflation has slowed down a lot over the last year, thanks in part to higher interest rates. But the Federal Reserve is having a harder time slowing services inflation.

The answer will be pretty familiar: consumer spending, and lots of it.