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'Stubborn' food inflation leaves U.S. shoppers with slim appetite for other goods

Posted on AllSides February 23rd, 2023
From The Center
REUTERS/Brendan McDermid

As American shoppers stomach soaring food prices, they are cutting back on purchases of other goods, such as toys, clothing and housewares, in a challenging trend for retailers.

Commentary this week from executives at Walmart (WMT.N) and other retailers shows how Americans are shifting their shopping habits and hunting for bargains in the face of the highest inflation in a generation.

At Walmart, the world's biggest retailer by revenue, Americans are still spending but are more "choiceful, discerning, thoughtful" about what they buy, its global Chief Executive Officer Doug McMillon told analysts....

Read full story
https://www.reuters.com/business/retail-consumer/stubborn-food-inflation-leaves-us-shoppers-with-slim-appetite-other-goods-2023-02-23/

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