The newspaper U-S-A Today carries a report today concluding high gas prices are making the national economy sputter. One who takes issue with that is Marty Regalia, chief economist for the U.S. Chamber of Commerce. Regalia says like it or not, we’re all economists each time we choose one product over another or save money by clipping coupons. He claims the recent jumps in cost are “relative price increases” for gas, not an overall inflationary increase. He says that’s making people change their consumption patterns but they’re still spending money, driving the economy forward.Regalia says the change in consumption patterns, spending and income so far hasn’t yet held back economic growth to a degree that’s dangerous. He spoke today (Wed) to a joint meeting of the Waterloo and Cedar Falls chambers of commerce.
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