This Week in Retail: Consumer Spending in Question as Inflation Heats Up
Summer is heating up and so is inflation—clouding the outlook for consumer spending on food, travel, and beyond.
According to the U.S. Bureau of Labor Statistics, inflation climbed to 9.1% in June, more than what economists had anticipated. The latest figure was a nearly 41-year high and what some analysts considered to be a peak.
Increases in food and gasoline prices contributed to the relentless surge in inflation, which has elevated the cost of living and forced some households to reconfigure their spending habits...
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