SATIS_1170x120_1-25-21

Inflation

Rising prices hurt retail sales in May

Rising prices hurt retail sales in May

WASHINGTON – Retail sales slowed in May as consumers faced continuing inflation and higher prices for essentials like food and gasoline, the National Retail Federation said Wednesday. “Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” NRF president and CEO Matthew Shay said.

Retailers urge tariff cuts to fight inflation

Retailers urge tariff cuts to fight inflation

WASHINGTON – The National Retail Federation urging the Biden administration to repeal tariffs on goods from China as a way to fight inflation, the trade group said Wednesday. To get that message out, the NRF said it is launching the second phase of a seven-figure advocacy campaign with broadcast, digital and out-of-home advertising, including a

NRF: ‘Extreme cooling off’ of economy is unlikely

NRF: ‘Extreme cooling off’ of economy is unlikely

WASHINGTON — A major economic setback seems unlikely despite the “tricky job” the Federal Reserve faces in getting inflation under control, National Retail Federation chief economist Jack Kleinhenz said Wednesday. “With changes underway that focus on taming inflation without splintering the economy, the nation’s economic system is in the process of being rebalanced in ways

Target earnings hit by higher costs

Target earnings hit by higher costs

MINNEAPOLIS – Target Corp. today said sales increased in its first quarter but higher costs impinged on profits. Comparable sales increased 3.3% in the quarter, reflecting traffic growth of 3.9%, the company said. Store comps were up 3.4% while digital comps increased 3.2%. Sales growth was led by frequently purchased categories, including food and beverage,

Retail sales rise 0.9% in April

Retail sales rise 0.9% in April

WASHINGTON – April retail sales rose 0.9% from the previous month to $677.7 billion, the Commerce Department reported today. It was the fourth consecutive monthly increase in the face of rising consumer prices. April’s increase followed the 0.5% gain in March sales, when Russia’s military invasion of Ukraine caused gasoline prices to surge. Pump prices

Consumers perceptions of food inflation worse than reality

Consumers perceptions of food inflation worse than reality

CHICAGO — U.S. consumers are now more worried about rising food prices, the economy, and their own personal finances than they are about getting COVID, according to the latest study from the customer data science company dunnhumby. And consumers perceive food inflation as being much higher than it actually is. American consumers surveyed for the

FMI offers perspective on grocery inflation

FMI offers perspective on grocery inflation

It’s clear that high inflation, which some overly optimistic economists had predicted would be a short-lived phenomenon, is now a persistent problem. Nowhere is the financial squeeze it causes more immediately evident to most Americans than at the supermarket. Leslie Sarasin, president and chief executive officer of FMI – The Food Industry Association, and Ricky

Consumer prices accelerated in March

Consumer prices accelerated in March

WASHINGTON — Consumer prices shot higher in March, driven by a strong economic recovery from pandemic-related restrictions, the Labor Department reported today. The consumer price index – which includes the often volatile categories of energy and food —  rose 0.6% from the previous month but 2.6% from the comparable period a year ago. It was