Tumbling gas prices at the pump were not enough to boost retail sales in July, which remained unchanged from June’s level of 0.8%, revised downward from 1%, as record-high inflation and rising interest rates continue to wreak havoc on household budgets and businesses’ bottom lines....
Throughout the pandemic, we’ve all collectively acquired a whole new set of digital doodads and pastimes, but as that episode gives way to the jarring inflationary comedown, consumers in all age and income brackets are now reprioritizing how they spend, shop and relax — even...
Rising global food prices, exacerbated by grain and fertilizer shortages produced by the war in Ukraine, are not only hurting households, but posing risks for multinational businesses, The Wall Street Journal reported Thursday (Aug. 11). Get the Full Story Complete the form to unlock this...
The government’s closely watched CPI report showed Wednesday (Aug 10) that inflation eased to 8.5% in July, marking a larger than expected dip from the 9.1% level posted in June. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
The United States added 528,000 jobs last month, far exceeding forecasts of 250,000 and beating June’s upwardly revised 398,000, the Bureau of Labor Statistics (BLS) announced in a Friday (Aug. 5) press release. Get the Full Story Complete the form to unlock this article and...
Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and...
As retail prices continue to soar, cash-strapped households are reeling in expenses by skipping extras, buying in bulk, doing without, and turning to dollar stores for essentials. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Consumer spending climbed 1.1% in June with higher fuel and food costs amid 40-year record high inflation that is continuing to eat away at paychecks and household budgets, the U.S. Bureau of Economic Analysis (BEA) reported on Friday (July 29). May’s report from the commerce...
Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and...
