American consumers are pushing back against high inflation — and they are winning
9 months, 4 weeks ago

American consumers are pushing back against high inflation — and they are winning

The Hindu  

Inflation has changed the way many Americans shop. In a video released on Super Bowl Sunday, Mr. Biden denounced shrinkflation as a “rip-off.” Consumer pushback against high prices suggests to many economists that inflation should further ease. “That was the fear — that everybody would tolerate higher prices,” said Gregory Daco, chief economist at EY, who notes that it hasn't happened. “I don't think we've moved into a high inflation regime.” Instead, this time many consumers have reacted like Stuart Dryden, a commercial underwriter at a bank who lives in Arlington, Virginia. “Firms are telling us that price sensitivity is very much higher now,” Mary Daly, president of the Federal Reserve Bank of San Francisco and a member of the Fed's interest-rate setting committee, said last week.

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History of this topic

Fed up with high prices? Here's where things stand with inflation
1 month, 1 week ago

Fed up with high prices? Here's where things stand with inflation

NPR  

Fed up with high prices? Here's where things stand with inflation toggle caption Justin Sullivan/Getty Images By the numbers, inflation in America continues in the same direction: Easing largely — but still sticky. "We both make decent wages, but with the way that inflation has increased, it's like our dollar just doesn't go as far," says Spangler, who helps manage …

Column: American economists and consumers got inflation wrong during its recent surge. They still do
2 months, 3 weeks ago

Column: American economists and consumers got inflation wrong during its recent surge. They still do

LA Times  

Sen. JD Vance tried to blame the $4 price of a dozen eggs on Kamala Harris in this campaign video. The “strong policy response” Powell referred to was the Fed’s raising of short-term interest rates 11 times, a total of 5.25 percentage points, from March 2022 through July 2023. In November 2021, however, Powell told Congress that it was “probably …

Anxiety over persistent inflation helps drive down US consumer sentiment for third consecutive month
6 months, 1 week ago

Anxiety over persistent inflation helps drive down US consumer sentiment for third consecutive month

Associated Press  

WASHINGTON — U.S. consumer sentiment fell in June for the third straight month as Americans took a dimmer view of their own finances and worried about persistent inflation. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, dropped to 65.6 this month from a final reading of 69.1 in May. AP AUDIO: Anxiety over persistent inflation …

US inflation eased last month in the first slowdown of 2024
7 months, 1 week ago

US inflation eased last month in the first slowdown of 2024

Associated Press  

WASHINGTON — Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team. Instead, he stressed that the Fed’s policymakers need “greater confidence” that inflation is falling to their 2% …

High inflation is pinching, 'consumers more discriminating with every dollar', McDonald's says
7 months, 3 weeks ago

High inflation is pinching, 'consumers more discriminating with every dollar', McDonald's says

Hindustan Times  

Inflation remains a pressing concern for some of America's most prominent corporations, with rising prices impacting consumers and bottom lines. McDonald’s CEO, Chris Kempczinski, highlighted the ongoing challenges faced by consumers during the company's recent earnings call, noting that elevated prices are prompting individuals to be more discerning with their spending. Other firms, including 3M and Newell Brands, have also …

US consumer sentiment ticks down slightly, but most expect inflation to ease further
9 months, 1 week ago

US consumer sentiment ticks down slightly, but most expect inflation to ease further

Associated Press  

WASHINGTON — Consumers became slightly less optimistic about the economy this month, though they continue to expect inflation to cool further, a potential sign that price increases will keep slowing. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 76.5 in March, barely below February’s figure of 76.9. Friday’s consumer sentiment figure follows inflation …

Consumers are increasingly pushing back against price increases — and winning
9 months, 4 weeks ago

Consumers are increasingly pushing back against price increases — and winning

Associated Press  

WASHINGTON — Inflation has changed the way many Americans shop. “That was the fear — that everybody would tolerate higher prices,” said Gregory Daco, chief economist at EY, a consulting firm, who notes that it hasn’t happened. “I don’t think we’ve moved into a high inflation regime.” Instead, this time many consumers have reacted like Stuart Dryden, a commercial underwriter …

Consumers are increasingly pushing back against price increases — and winning
9 months, 4 weeks ago

Consumers are increasingly pushing back against price increases — and winning

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “That was the fear — that everybody would tolerate …

Consumer sentiment edges higher as economic growth accelerates and inflation fades
10 months, 1 week ago

Consumer sentiment edges higher as economic growth accelerates and inflation fades

Associated Press  

WASHINGTON — A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after several years of gloom. Still, consumer sentiment remains 6% below its long-run average after the worst spike in inflation in four decades pushed up the cost of groceries, rent, gas, and …

Inflation slows but remains elevated, a sign price pressures are easing only gradually
10 months, 1 week ago

Inflation slows but remains elevated, a sign price pressures are easing only gradually

LA Times  

U.S. consumer prices rose more than expected in January, further reducing the chances that Federal Reserve officials will start lowering interest rates soon. At his most recent news conference, Fed Chair Jerome H. Powell singled out persistently high services prices as a concern and indicated the central bank’s policymakers would like to see services inflation ease further before starting to …

Americans’ economic outlook brightens as inflation slows and wages outpace prices
11 months ago

Americans’ economic outlook brightens as inflation slows and wages outpace prices

LA Times  

A customer checks prices while shopping at a grocery store last week in Wheeling, Ill. A typical basket of groceries now costs 20% more than in February 2021, just before inflation began to take off. After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, …

Wholesale inflation in US slowed further last month, signaling that price pressures continue to ease
1 year ago

Wholesale inflation in US slowed further last month, signaling that price pressures continue to ease

Associated Press  

Wholesale inflation in the United States was unchanged in November, suggesting that price increases in the economy’s pipeline are continuing to gradually ease. The Labor Department reported Wednesday that its producer price index — which tracks inflation before it reaches consumers — was flat from October to November after having fallen 0.4% the month before. Excluding volatile food and energy …

US consumers are feeling the most optimistic since September 2021
1 year, 5 months ago

US consumers are feeling the most optimistic since September 2021

CNN  

Washington, DC CNN — Inflation’s steady slowdown in recent months has kept Americans feeling optimistic about the future. Despite the Federal Reserve’s most aggressive rate-hiking campaign in decades, which was put on hold last month, the labor market has held remarkably steady while inflation has slowed, raising the odds of a so-called soft landing — or a scenario in which …

US economy sending mixed signals: Here’s what it all means
1 year, 9 months ago

US economy sending mixed signals: Here’s what it all means

Associated Press  

WASHINGTON — Maybe it was just too good to be true. Fed Chair Jerome Powell was expected to warn Congress Tuesday that the central bank will have to raise interest rates even higher than it’s previously signaled if inflation keeps running hot. By June 2022, consumer prices were 9.1% higher than they’d been a year earlier — the hottest year-over-year …

US economy sending mixed signals: Here’s what it all means
1 year, 9 months ago

US economy sending mixed signals: Here’s what it all means

Associated Press  

WASHINGTON — Maybe it was just too good to be true. Here’s a closer look at the economy’s vital signs at a perplexing time of high interest rates, still-punishing inflation and surprisingly strong economic gains. By June 2022, consumer prices were 9.1% higher than they’d been a year earlier — the hottest year-over-year inflation in more than four decades. The …

Cautious but steady consumers buoying hopes for US economy
1 year, 10 months ago

Cautious but steady consumers buoying hopes for US economy

Associated Press  

WASHINGTON — Call it the Goldilocks consumer. “Decreasing inflation expectations,” Ball said, “are unambiguously good for the inflation fight.” He added, though, that he’s still concerned about the robust jobs market and how sharp pay raises may still keep inflation elevated. She feels the impact of inflation every day, she said, in “everything we eat at home, everything we need …

DC EDIT | First sign of price relief; up to govt to insulate economy
2 years, 1 month ago

DC EDIT | First sign of price relief; up to govt to insulate economy

Deccan Chronicle  

After three months of spike, retail inflation or the Consumer Price Index softened to 6.77 per cent in October. The price rise among cereals, in particular, which has nearly 10 per cent weightage in the retail inflation, remained elevated at 12 per cent, because of irregular monsoon distribution and unseasonal rain disrupting supply. Inflation in energy products and clothes, which …

Rising prices set to gobble up Americans’ Thanksgiving budgets
2 years, 2 months ago

Rising prices set to gobble up Americans’ Thanksgiving budgets

LA Times  

Grocery shoppers at a store in Rosemead, Calif. Higher prices for food contributed to an annual inflation rate of 8.2% in September. And in areas central to most consumers’ everyday lives, prices are rising at faster rates than many Americans have seen in their lifetimes. “It’s pretty insane,” said Laura Shouse, a small-business owner in Huntington Beach, referring to soaring …

Driven by consumers, US inflation grows more persistent
2 years, 3 months ago

Driven by consumers, US inflation grows more persistent

Associated Press  

WASHINGTON — U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession. Instead, inflation has now sp On Tuesday, the government said inflation ticked up 0.1% from July to August and 8.3% from a year …

US inflation surges again in June, raising risks for economy
2 years, 5 months ago

US inflation surges again in June, raising risks for economy

Associated Press  

WASHINGTON — U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively -- trends that raise the risk of a recession. The government’s consumer price index soared 9.1% over the past year, the biggest yearly increase since 1981, …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 5 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Inflation’s relentless surge didn’t merely persist in June. Even if you toss out food and energy prices — which are notoriously volatile and have driven much of the price spike — so-called core inflation soared 5.9% over the past year. The inflation of the 1970s and early 1980s peaked at 14.8% in March 1980 before the Fed exorcized …

Key inflation gauge tracked by the Fed remains a high 6.3%
2 years, 5 months ago

Key inflation gauge tracked by the Fed remains a high 6.3%

Associated Press  

WASHINGTON — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and people of color. The Fed tends …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 10 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Last year, it was a nasty surprise. In December 2020, the Fed’s policymakers had forecast that consumer inflation would stay below their 2% annual target and end 2021 at around 1.8%. For months, Fed Chair Jerome Powell and others characterized higher consumer prices as merely a “transitory” problem — the result, mainly, of shipping delays and temporary shortages …

US sees highest increase in inflation in 40 years fueled by 7.5% surge in consumer prices
2 years, 10 months ago

US sees highest increase in inflation in 40 years fueled by 7.5% surge in consumer prices

India Today  

U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, which could fuel financial markets speculation for a 50 basis points interest rate hike from the Federal Reserve next month. STRONG UNDERLYING INFLATION Excluding the volatile food and energy components, the CPI increased 0.6% last month after rising 0.6% in December. "The …

Rising inflation tightens squeeze on consumers
2 years, 11 months ago

Rising inflation tightens squeeze on consumers

Associated Press  

Retail sales took an unexpected dip in December in what could be a signal that persistently rising inflation is prompting a pullback in consumer spending. Persistently rising inflation has made goods more expensive all around, therefore cutting purchasing power by making people stretch their dollars more for the same items. Retail sales haven’t fallen by that much since early in …

EXPLAINER: Why US inflation is so high, and when it may ease
3 years ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Inflation is starting to look like that unexpected — and unwanted — houseguest who just won’t leave. Economists at Wells Fargo have joked grimly that the Labor Department’s CPI — the Consumer Price Index — should stand for “Consumer Pain Index.’’ Unfortunately for consumers, especially lower-wage households, it’s all coinciding with their higher spending needs right before the …

US consumer price inflation rockets at fastest pace since 1982
3 years ago

US consumer price inflation rockets at fastest pace since 1982

Al Jazeera  

US inflation continues to gallop ahead, as supply chains snarls and shortages keep driving prices higher. Consumer prices in the United States rocketed 6.8 percent in November from the same period a year ago, the Bureau of Labor Statistics said on Friday. The big worry is whether this year’s blistering inflation stemming from supply chain snarls and shortages of raw …

Analysis: Why is inflation so high, and when will it ease?
3 years ago

Analysis: Why is inflation so high, and when will it ease?

LA Times  

Customers shop at a Best Buy store in Overland Park, Kan., on Black Friday. Economists at Wells Fargo have joked grimly that the Labor Department’s CPI — the consumer price index — should stand for “consumer pain index.” Unfortunately for consumers, especially lower-wage households, it’s all coinciding with their higher spending needs right before the holiday season. “A sizable chunk …

Despite higher prices, US consumers keep spending up a storm
3 years, 1 month ago

Despite higher prices, US consumers keep spending up a storm

Al Jazeera  

Inflation in the United States may have surged to a 30-year high in October, but that didn’t stop consumers from spending up a storm last month as Americans got a jump start on the holiday shopping season. Sales at retail stores, online and at restaurants in the world’s largest economy increased 1.7 percent in October compared to the previous month, …

EXPLAINER: Why US inflation is so high, and when it may ease
3 years, 1 month ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Inflation is starting to look like that unexpected — and unwanted — houseguest who just won’t leave. But they didn’t do nearly as much stimulus.’’ In a statement Wednesday, Biden acknowledged that “inflation hurts Americans’ pocketbooks, and reversing this trend is a top priority for me.’’ But he said his $1 trillion infrastructure package, including spending on roads, …

Inflation watch: US consumer prices post sharpest rise since 2008
3 years, 5 months ago

Inflation watch: US consumer prices post sharpest rise since 2008

Al Jazeera  

The flames of inflation fears got a fresh dose of fuel on Tuesday after United States government data showed that consumer prices surged again in June. Consumer prices spiked 0.9 percent last month after rising 0.6 in May, the US Department of Labor said. Over the last 12 months, the all items consumer price index rose 5.4 percent in June …

Another Jump in Prices Tightens the Squeeze on US Consumers
3 years, 6 months ago

Another Jump in Prices Tightens the Squeeze on US Consumers

News 18  

American consumers absorbed another surge in prices in May a 0.6 per cent increase over April and 5 per cent over the past year, the biggest 12-month inflation spike since 2008. The May rise in consumer prices that the Labor Department reported Thursday reflected a range of goods and services now in growing demand as people increasingly shop, travel, dine …

Consumer prices shot up 0.8% in April as worries escalate
3 years, 7 months ago

Consumer prices shot up 0.8% in April as worries escalate

Associated Press  

WASHINGTON — A worrisome bout of inflation struck the U.S. economy in April, with consumer prices for goods and services surging 0.8% — the largest monthly jump in more than a decade — and the year-over-year increase reaching its fastest rate since 2008. The April inflation report showed that food prices rose 0.4%, the biggest such increase since a 0.5% …

EXPLAINER: Why are fears of high inflation getting worse?
3 years, 7 months ago

EXPLAINER: Why are fears of high inflation getting worse?

Associated Press  

WASHINGTON — Gas prices are rising. Not since the late 1960s and early ‘70s has the United States endured chronic high inflation, with consumer prices rising at or near double-digit percentages from one year to the next. Under Chair Jerome Powell, the Fed is betting that it can keep rates ultra-low even as the economic recovery kicks into high gear …

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