Monday, October 6, 2008

Stat of the Day: Commodity Costs Down for the Year

According to the guys at Bespoke, the average daily costs for commodities such as gas is now down $0.62 for the year. So the average consumer is now spending less then they were when the year started. Its also down a remarkable $5.39 per day from the peak in July when consumers were spending $4.77 per day more on commodities. That amounts to a lot of extra cash for consumers and should be bullish to financials and retailers as the market normalizes.

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