Tag: inflation

Slower-but-continued growth in gross domestic product and other economic indicators during the first quarter of NRF's Monthly Economic Review showed inflation control challenges.

With the Federal Reserve continuing to increase interest rates to fight inflation, the NRF doesn’t expect a recession but said the forecast assumes gross domestic product growth will slow from nearly 3 percent in the second half of 2022 to 1 percent in 2023.

In recent decades, many Americans forgot the economic disruption that inflation can bring. It has remained only a distant threat—until now.

Consumers remain worried about high inflation and Federal Reserve interest rate hikes intended to bring inflation under control, but neither has stopped them from spending.

The world faces multiple challenges for the balance of 2022, into 2023, and it may even extend into 2024. Multiple negative forces are combining to slow the dramatic growth of the pre-pandemic decade.

Consumers' willingness to spend overcame inflation again in August as more jobs and higher wages helped ease some of the pressure of continuing high prices.

Despite two consecutive quarters of decline, the US economy still does not appear to be in a recession and remains unlikely to enter one this year.

Consumer spending held up during June’s inflation surge, with retail sales rising slightly more than expected for the month amid rising prices, according to the Commerce Department.

April retail sales as calculated by NRF were up 0.9 percent seasonally adjusted from March and 6.4 percent year over year.

Consumers accustomed to inflation continued to spend in April as retail sales overcame higher prices to show both monthly and year-over-year increases.