I saw a report from Bloomberg a little while ago that the Federal Reserve has a new plan to end high inflation — through a “growth recession” strategy. Worrisome, huh? The economist who first thought up “growth recession” likened it to a contained tiger — not a tiger running loose, but not a paper tiger
WASHINGTON — As high rates of inflation persist, consumers across income levels are feeling the pain of higher prices on everything from household essentials to services like travel and dining out. Despite challenges, consumers are still prioritizing holiday spending. An NRF September 2022 consumer survey found that: Households earning over $75,000 a year are twice as likely
I saw a report from Bloomberg a little while ago that the Federal Reserve has a new plan to end high inflation — through a “growth recession” strategy. Worrisome, huh? The economist who first thought up “growth recession” likened it to a contained tiger – not a tiger running loose, but not a paper tiger
CHICAGO – Back-to-school spending this season will reach an all-time high, according to an online consumer survey from JLL Retail Research. JLL conducted the survey of 1,001 parents of school-age children in mid-June to learn how they intend to shop for the back-to-school season, how inflation is affecting purchase plans, which retailers they plan to
PURCHASE, N.Y. — Higher prices, particularly for such necessities as food and fuel, helped drive a 9.5% year-over-year retail sales increase in June. That figure is courtesy of Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, and excludes automotive sales. When spending on gasoline is also excluded, retail sales
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.
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
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
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,
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
WASHINGTON – Consumers continued to spend in March despite price hikes driven by a four-decade high in inflation, according to economic data released today. March retail sales were up 0.5%, the Commerce Department reported. It was the third consecutive month in which retail sales increased in the face of rising prices, notably an 8.9% spike
The Bureau of Labor Statistics reported earlier this month that the Consumer Price Index, which measures a basket of goods and services, indicated an inflation rate of 7.9% for the 12-month period that ended in February. That’s a number not seen since January 1982, indicating that inflation is higher than it’s been in 40 years.