WASHINGTON – Inflation and the Federal Reserve’s efforts to bring it under control will remain big factors in the economy this year, according to National Retail Federation Chief Economist Jack Kleinhenz.“With the U.S. economy’s strength resting heavily on household spending, all eyes are on the consumer – and how consumers will respond the next few
The economy delivered some bad news but mostly surprisingly good news for retailers last year. Consumer confidence was shaken by high inflation and the interest rate hikes intended to combat it, but consumer spending — and retail sales — remained remarkably robust. And as 2023 was drawing to a close, inflation was showing signs of
NEW YORK — Consumers are still worried about rising prices, according to the latest data from Deloitte’s ongoing ConsumerSignals study. And that concern is likely weighing on Americans’ overall sense of financial well-being. That’s important because a sense of personal financial well-being can impact how consumers approach everything from budgeting for big purchases to their grocery
BENTONVILLE, Ark. — Walmart promises a season of savings designed to make shopping for gifts and celebrating the holidays more affordable. With 92% of Walmart customers expressing some level of concern about inflation1 and how it will impact holiday celebrations, the retailer says it is doubling down on its commitment to saving customers more money.
WASHINGTON – American consumers could lose $31 billion in spending power if U.S. tariffs are raised on common household products like microwaves and T-shirts imported from China, according to a new report released Thursday by the National Retail Federation. The study, “Estimated Impacts of Changes to China’s Tariff Status,” examines how ending the country’s permanent
CINCINNATI — The Kroger Co. today said revenue declined in the second quarter of fiscal 2023 as the rate of inflation slowed. Kroger reported net sales of $33.8 billion for the three months to August 12, down from $34.6 billion in the comparable period a year ago. Kroger reiterated its forecast for the full year
ARLINGTON, Va. – FMI – The Food Industry Association Vice President, Tax, Trade, Sustainability and Policy Development Andy Harig issued the following statement on the May 2023 Consumer Price Index (CPI) numbers that reveal another month of moderating food price inflation. “The May CPI report reveals grocery prices continue to level off, with food price inflation
ST. PETERSBURG, Fla. – With Mother’s Day ranking as the second most popular gift-giving holiday in the U.S, per the National Retail Federation, and with inflation still an ongoing concern, shoppers across the country are seeking the perfect present for the moms in their lives. Historically popular gift items that currently offer the most bang
ARLINGTON, VA — Shopping around to find bargains is a more popular way to cope with inflation than buying fewer items, according to a new survey of U.S. grocery shoppers conducted for FMI — the Food Industry Association. Among shoppers concerned about rising food prices, only 32% reported buying fewer items as a strategy in
NEW YORK — One of the ways consumers are coping with inflation is by purchasing more store brand products. That’s good news for retailers, who are upping the profile and quality of their own brand products to try to ensure that customers who try their products continue to buy them even when the economic climate
WASHINGTON – It’s too soon to say whether the Federal Reserve’s efforts to reduce inflation will lead to a recession, but continuing interest rate hikes increase the chances, National Retail Federation Chief Economist Jack Kleinhenz said Tuesday. “This year starts with the possibility of easing inflation but also uncertainty,” Kleinhenz said, referring to the interest
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