Consumer prices

US consumer spending rose in August as gas prices fell | CNN Business

US consumer spending rose in August as gas prices fell | CNN Business

CNN Business  —  Another month of falling gas prices gave Americans’ wallets a bit of a reprieve in August. That sent consumers back to stores last month. The Census Bureau reported Thursday that a key measure of August US retail sales rose unexpectedly by 0.3% on a monthly basis, following a revised decrease of 0.4% …

US consumer spending rose in August as gas prices fell | CNN Business Read More »

Personalized coffees and prestige skincare: Consumers snap up premium products despite cost-of-living crisis

Personalized coffees and prestige skincare: Consumers snap up premium products despite cost-of-living crisis

“As we create more premium beverages, it becomes more difficult for customers to replicate it at home and we think that helps with the concept of trade down,” Starbucks CFO Rachel Ruggeri told CNBC’s “Squawk Box” on Aug. 3. Gary Hershorn / Contributor / Getty Images Personalized coffees, “prestige” skincare and “elevated” sauces and spreads …

Personalized coffees and prestige skincare: Consumers snap up premium products despite cost-of-living crisis Read More »

The market read the Federal Reserve all wrong | CNN Business

The market read the Federal Reserve all wrong | CNN Business

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business  —  After the Federal Reserve’s July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in …

The market read the Federal Reserve all wrong | CNN Business Read More »

US inflation hit 40-year high in June, driven by record gas prices | CNN Business

US inflation hit 40-year high in June, driven by record gas prices | CNN Business

CNN  —  Inflation surged to a new pandemic-era peak in June, with US consumer prices jumping by 9.1% year-over-year, according to fresh data released Wednesday by the Bureau of Labor Statistics. That’s the highest level in more than 40 years and higher than the previous reading, when prices rose by 8.6% for the year ended …

US inflation hit 40-year high in June, driven by record gas prices | CNN Business Read More »

70% of Americans think a recession is coming: Here’s what they are doing to prepare

70% of Americans think a recession is coming: Here’s what they are doing to prepare

Woman on her back pushing shopping cart in supermarket aisle David Espejo | Getty Images Experts are weighing the odds as to how likely a recession is and how fast it could come upon us. Most Americans — 70% — already believe an economic downturn is on its way, according to a new survey from …

70% of Americans think a recession is coming: Here’s what they are doing to prepare Read More »

Inflation is making Fourth of July celebrations more expensive than ever

Inflation is making Fourth of July celebrations more expensive than ever

Fotografia Inc. | E+ | Getty Images Nothing says Independence Day like a good, old-fashioned barbecue. In keeping with tradition, most Americans — roughly 60% — plan to grill this weekend, and 53% will get together with friends and family, according to a recent report by market research firm Numerator. “Consumers want to celebrate this summer …

Inflation is making Fourth of July celebrations more expensive than ever Read More »

Hot inflation data points to a record-high Social Security cost-of-living adjustment in 2023. Some want to change how increases are measured

Hot inflation data points to a record-high Social Security cost-of-living adjustment in 2023. Some want to change how increases are measured

Image Source | Getty Images New government inflation data came in hotter than expected last week. If record-high prices don’t subside, that will lead to a higher Social Security cost-of-living adjustment in 2023. Yet even with a more generous boost to benefits next year, there’s a growing campaign to change the way those annual benefit …

Hot inflation data points to a record-high Social Security cost-of-living adjustment in 2023. Some want to change how increases are measured Read More »