You’re already paying more for groceries and gas. Here’s where consumers will feel the next round of ‘sticker shock.’
By Dr. Rich Swier
FAIRtax’s Market Watch reports:
Consumers may already be reeling from higher prices for things like groceries and energy, but S&P Global Ratings says inflation has more surprises in store.
“Packaged food and household products companies have yet to pass through all of their price hikes, and so consumers will likely face more sticker shock before prices stabilize,” wrote Sarah Wyeth in a note published Thursday.
“As grocery and gas bills increasingly squeeze budgets, we expect that consumers will defer some expenditures and switch to less-expensive brands in the second half of the year.”
The U.S. inflation rate has reached a 40-year high of 7.5%. With prices heading north, some shoppers are already tightening their belts with the help of off-brand everyday goods.
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