Editor Daily Rundown: Americans Turn To Dollar Stores During Biden Recession

AMERICANS TURN TO DOLLAR STORES DURING BIDEN RECESSION… 71 PERCENT JUMP SINCE OCT. 2021… WSJ: Dollar-Store Dinners and Vats of Shampoo Help Families Cope With High Prices

More Americans are embracing frugality as they face rising prices at every turn.

With energy costs up 41.6% and groceries 12.2% more expensive than they were last year, according to June’s Consumer Price Index, many families say that skipping vacations and restaurant meals is no longer enough. They are now finding ways to cut costs on essentials.

One way they are doing so is by relying more on dollar and discount stores for groceries. Average spending on grocery products at discount chains increased 71% from October 2021 to June 2022, according to analytics firm InMarket. Over that time period, spending on the same items in grocery stores decreased by 5%. Many large consumer brands—including Walmart and Unilever—attest that their prices aren’t going down anytime soon.

 

JEROME POWELL LAST WEEK… POOR ARE ‘SUFFERING FROM HIGH INFLATION… PAYCHECK DOESN’T COVER THE FOOD…’

Now, the macroeconomic—there are plenty of macroeconomic issues that don’t rise to the level of financial-stability concerns. By financial stability, you know, we think of that as things that might undermine the working of the financial

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