India, July 5 -- The economy, inflation, and how those forces could impact the lives of Americans were front and centre over the past week. Trips to the grocery store or gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses.

Here's a snapshot of prominent economic data and news that occurred over the past week, and what it potentially means for you.

Consumers are still gloomy about the economy

Americans' attitudes toward the economy improved slightly this month as gas prices declined, but their outlook is still mostly negative by historical standards.

The Conference Board said Tuesday that its consumer confidence index rose 0.6 points to 91.2 in June, a fi...