Nonilex@Nonilex@masto.ai
But July data showed more businesses reaching a tipping point, left with little option but to raise #prices following June’s notable uptick. The biggest impact has been concentrated in categories such as furniture, appliances & other household wares, as well as recreation goods & footwear.
Car price increases have stayed relatively subdued as carmakers have shielded their customers from #Trump’s #tariffs rather than forcing them to bear the brunt of the higher #costs.
#economy #CPI #inflation
Nonilex@Nonilex@masto.ai
…Americans have become choosier about how they spend, depressing airline fares, hotel fees & other services-related costs. Hiring has slowed in recent months, keeping a lid on wage gains. July’s #jobs report showed just 73k jobs added for the month, & gains registered in May & June were revised down by 258k positions. Companies have yet to lay off workers in droves, but economists worry they will be forced to cut back on #costs as #tariffs continue to eat into their margins.
#economy #Trump
