'After $1 Trillion Lost To Inflation, Consumers’ Resilience Has Reached The Breaking Point
In a recent CNBC interview, NRF [National Retail Federation] president and CEO Matthew Shay reported January retail sales were up 4.8% over last year, highlighting: “We have very resilient consumers and people are out their spending. In spite of what
they know and concerns regarding inflation, they’re finding a way to get out and spend.”
https://www.forbes.com/sites/pamdanziger/2023/03/12/consumers-resilience-has-reached-the-breaking-point-one-trillion-dollars-worth/?sh=3562fb384720
Oops! The increased sales dollar value was almost completely attributable to higher prices of goods rather than more goods being sold.
Inflation cost American consumers more than $1 trillion last year, according to Jitender Miglani, senior forecast analyst at Forrester.
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