Soaring Inflation Could Put A Damper On Black Friday Shopping

FILE - A customer checks price tags while shopping at a retail store in Schaumburg, Ill., Thursday, June 30, 2022. Consumers picked up their spending in June from May despite surging prices in gas and food. U.S. retail sales rose 1% last month, from a revised decline of 0.1 % in May, the Commerce Department said Friday, July 15, 2022. (AP Photo/Nam Y. Huh, File)

At a glance

  • Grinding inflation is expected to impact Black Friday and holiday shopping season numbers.
  • “The lower incomes are definitely hit worst by the higher inflation,” said Claire Li, a senior analyst at Moody’s. “People have to spend on the essential items.”
  • The consumer price index has been up about eight percent on an annual basis.

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