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All posts tagged "Consumers"

Retailers issue 'warning' to Trump that higher prices are coming soon: report

Retailers issue 'warning' to Trump that higher prices are coming soon: report

Retailers are likely to raise prices "in the coming weeks" due to President Donald Trump's tariffs, according to a report in The New York Post.

Business editor and Fox correspondent Charles Gasparino wrote Friday, "The retail industry is alerting President Trump that they can’t 'eat' his tariffs forever – and price increases are likely to hit in the coming weeks."

"Whether this gets translated into higher official inflation numbers is anyone’s guess at this point. But for many items enjoyed by Americans who like cheap goods brought in from abroad – a majority of them from China – these things will soon be getting a lot less cheap."...

Key US inflation gauge cools further as rate hikes bite

Key US inflation gauge cools further as rate hikes bite

Washington (AFP) - A key indicator of US inflation cooled in June to the lowest annual rate in over two years, although this remains above the central bank's target, according to government data released Friday. The Federal Reserve's preferred gauge of inflation, the personal consumption expenditures (PCE) price index, rose 3.0 percent last month from June 2022, down from a 3.8 percent jump in May, said the Commerce Department. From May to June, the PCE price index ticked up 0.2 percent, a touch above the 0.1 percent rate in the prior month. But spending climbed 0.5 percent between May and Jun......