Tag: retail and wholesale trade
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Shoppers are still adjusting to inflation — but holiday spending is expected to be in "full force"
New York CNN Business — Black Friday isn’t what it used to be. But many Americans are still expected to spend on the holiday. Mastercard projects that sales will grow 15% on Black Friday compared with last year. Spending will be driven by shopping in stores, which was more muted last year due to a…
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Food prices are still soaring — here's what's getting more expensive
New York CNN Business — Inflation may be slowing, but food prices are still through the roof. Food costs spiked 11.4% over the past year, the largest annual increase since May 1979, according to data released Tuesday by the Bureau of Labor Statistics. Americans browsing the supermarket aisle will notice most food items are far…
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Here's why 75% of likely voters think we are in a recession — even though we're probably not
New York CNN Business — A new CNN poll shows that three-quarters of likely voters feel like the US economy is in a recession. It’s probably not, but that’s not the point. The technical definition of a recession is two consecutive quarters of economic contraction, which the US economy recorded in the first half of…
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Food prices are still surging — here's what's getting more expensive
New York CNN Business — Prices at the grocery store continued to soar last month, adding even more pressure to shoppers’ wallets. The food at home index, a proxy for grocery store prices, increased 0.7% in September from the month prior and a stunning 13% over the last year, according to new government data released…