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A New York Fed survey shows consumers are cutting back. But inflation means they’re paying more for the same stuff.
Chinese officials have lifted the harshest restrictions of the zero-COVID policy, but consumers are still cautious amid surging infections.
Shrinkflation means getting less product for the same price, and it’s not going away anytime soon.
It’s a tale of two inflations: goods versus services.
Although they’re contending with inflation and economic uncertainty, they continue to rack up debt and burn through their savings.
The personal saving rate declined in October to its lowest point since 2005. “A lot of people are close to the edge, unfortunately,” an analyst says.
They don’t like the inflation rate, but they do like the current job market.
Many buy now, pay later services began as a way to help people make big-ticket purchases. Now, it’s also a way to finance essentials.
Their debt levels are rising as the holiday shopping season ramps up. It helps that unemployment is low.
Reports on inflation, consumer confidence and jobs will be consequential. We asked economists to point out the most important items.