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People who spend a bigger chunk of their budget on gas and groceries are disproportionately impacted by rising prices.
We spoke to Michael Hewson, chief market analyst at CMC Markets, for some insight.
But that’s not stopping many consumers from getting out to restaurants or shopping malls.
Wage growth, low unemployment and pent-up demand when COVID case counts decline may help explain the disconnect.
The services sector has been feeling the pinch of higher costs, particularly when it comes to wages.
The monthly gauge rose 3.8%, showing that Americans are eager to shop despite inflation. It could further push the Fed to hike rates.
Even though sentiment has tanked, a New York Fed survey finds that consumers expect inflation to ease in the future.
The University of Michigan’s consumer sentiment index is at a 10-year low. But consumer demand and savings remain high.
The online retailer has been experimenting with physical locations for several years now.
Question remains, though: When will consumers cut spending?