MasterCard Posts 33% Profit Increase

(NEW YORK) — U.S. shoppers kept on using their MasterCards in July even as uncertainty about the economy increased.

Spending with credit and debit cards bearing the company's logo rose about 12 percent in the U.S. compared with July 2010, Chief Financial Officer Martina Hund-Mejean of Mastercard Inc. said Wednesday.

About 2 points of that increase came from gas prices, which averaged about $1 per gallon higher than a year ago. Inflation also played a part in higher clothing and food costs, and more expensive luxury items due to record prices for gold and silver, she said.

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