Retailers are facing a challenge as consumer spending habits undergo a significant shift, prompting a wave of price cuts across various industries. With consumers tightening their belts amid rising inflation and stagnant incomes, retailers are slashing prices on thousands of products in a bid to stimulate spending and remain competitive in a challenging market.
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Consumer prices rose 3.5% in March compared to a year ago, accelerating markedly from the previous month and reversing some of the progress achieved in a two-year fight to cool inflation, U.S. Bureau of Labor Statistics data showed. The finding matched economists' expectations.
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Retailers are facing a challenge as consumer spending habits undergo a significant shift,...
Photo Credit: File Photo Consumer prices rose 3.5% in March compared to a year ago, accelerating...
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Photo Credit: Matt Rourke Held down by sinking gas prices, U.S. inflation was mostly unchanged...
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