{"id":1056736,"date":"2021-11-26T08:44:06","date_gmt":"2021-11-26T13:44:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1056736"},"modified":"2021-11-26T08:44:10","modified_gmt":"2021-11-26T13:44:10","slug":"americans-ramp-up-consumption-ahead-of-holidays-according-to-commerce-department","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-ramp-up-consumption-ahead-of-holidays-according-to-commerce-department\/","title":{"rendered":"Americans Ramp Up Consumption Ahead Of Holidays, According To Commerce Department"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famericans-ramp-up-consumption-ahead-of-holidays-according-to-commerce-department%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1056736&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Consumer spending is increasing ahead of the holiday season, according to federal data.<\/p>\n<p><a href=\"https:\/\/www.wsj.com\/articles\/consumer-spending-personal-income-inflation-october-2021-11637710533?mod=hp_lead_pos2\">The Wall Street Journal<\/a> reported:<\/p>\n<p>Household spending rose 1.3% in October from a month earlier, while personal income increased 0.5% last month, the Commerce Department said Wednesday. Consumers are benefiting from a strong labor market. And they are spending at a faster pace than inflation, which recently hit a three-decade high.<\/p>\n<p>Jobless claims, a proxy for layoffs, fell to 199,000 last week, the lowest weekly level in 52 years, the Labor Department separately said. The sharp decline in unemployment claims suggests rising wages and bountiful job openings could continue to buttress consumer spending \u2014 the economy\u2019s main engine \u2014 despite fading government stimulus and dwindling savings.<\/p>\n<p>An earlier <a href=\"https:\/\/www.dailywire.com\/news\/consumers-absorb-inflation-as-retail-sales-increase\">report<\/a> from the United States Census Bureau reveals that American retail and food services sales rose by 1.7% between September and October \u2014 signaling that consumers are willing to absorb inflation as the economy continues to recover. Indeed, some firms have been able to pass inflation on to consumers by hiking their prices.<\/p>\n<p>Tyson Foods, for example, saw <a href=\"https:\/\/www.dailywire.com\/news\/with-recent-price-increase-tyson-foods-successfully-passes-inflation-costs-on-to-consumers\">improved<\/a> margins in their most recent quarter after increasing the costs of beef, poultry, and other meat products.&nbsp;<\/p>\n<p>\u201cI can\u2019t think of a single thing that has either stayed the same or gone down,\u201d said Tyson chief executive Donnie King, in reference to rising input costs.<\/p>\n<p>\u201cThe inflation we incur needs to be passed on,\u201d added chief financial officer Stewart Glendinning. \u201cSome of the inflation for us has been substantial.\u201d<\/p>\n<p>General Mills \u2014 the company behind food brands such as Annie\u2019s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charm\u2019s, Wheaties, Reese\u2019s Puffs, and Trix \u2014 will <a href=\"https:\/\/www.dailywire.com\/news\/general-mills-to-raise-prices-on-yogurt-cereal-other-foods-due-to-inflation\">increase<\/a> prices by 20% for many items. CNN Business reported that the company plans to push inflation-related costs to its grocery and convenience store customers.<\/p>\n<p>After 35 years of consistent pricing, Dollar Tree <a href=\"https:\/\/www.dailywire.com\/news\/dollar-tree-will-raise-prices-to-1-25\">announced<\/a> that it would increase nationwide price points to $1.25 \u2014 a move that 91% of consumers are expected to accept.<\/p>\n<p>\u201cWe experienced a strong finish to the quarter, as shoppers are increasingly focused on value in this inflationary environment,\u201d said Dollar Tree chief executive Michael Witynski. \u201cOur Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide. Accordingly, we have begun rolling out the $1.25 price point at all Dollar Tree stores nationwide.\u201d<\/p>\n<p>Meanwhile, a new poll <a href=\"https:\/\/www.dailywire.com\/news\/new-poll-77-of-americans-say-inflation-is-impacting-their-lives-majority-blame-biden\">shows<\/a> that 77% of Americans say inflation is impacting their lives; 57% blamed President Biden. A majority of Americans are worried they \u201cwon\u2019t be able to afford what they need during the holidays due to inflation,\u201d while 45% are worried they \u201cwon\u2019t be able to get what they need\u201d due to shortages.<\/p>\n<p>Another poll <a href=\"https:\/\/www.dailywire.com\/news\/poll-just-4-of-americans-think-country-is-doing-very-well\">indicates<\/a> that 96% of Americans do not believe things are going \u201cvery well\u201d in America. President Biden was denounced by 67% of respondents for his handling of inflation.<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumer spending is increasing ahead of the holiday season, according to federal data.The Wall Street Journal reported:Household spending rose 1.3% in October from a month earlier, while personal income increased 0.5% last month, the Commerce Department said Wednesday. Consumers are benefiting from a strong labor market. And they are spending at a faster pace than inflation, which recently hit a three-decade high.Jobless claims, a proxy for layoffs, fell to 199,000 last week, the lowest weekly level in 52 years, the Labor Department separately said. The sharp decline in unemployment claims suggests rising wages and bountiful job openings could continue to buttress consumer spending \u2014 the economy\u2019s main engine \u2014 despite fading government stimulus and dwindling savings.An earlier report from the United States Census Bureau reveals that American retail and food services sales rose by 1.7% between September and October \u2014 signaling that consumers are willing to absorb inflation as the economy continues to recover. Indeed, some firms have been able to pass inflation on to consumers by hiking their prices.Tyson Foods, for example, saw improved margins in their most recent quarter after increasing the costs of beef, poultry, and other meat products.\u00a0\u201cI can\u2019t think of a single thing that has either stayed the same or gone down,\u201d said Tyson chief executive Donnie King, in reference to rising input costs.\u201cThe inflation we incur needs to be passed on,\u201d added chief financial officer Stewart Glendinning. \u201cSome of the inflation for us has been substantial.\u201dGeneral Mills \u2014 the company behind food brands such as Annie\u2019s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charm\u2019s, Wheaties, Reese\u2019s Puffs, and Trix \u2014 will increase prices by 20% for many items. CNN Business reported that the company plans to push inflation-related costs to its grocery and convenience store customers.After 35 years of consistent pricing, Dollar Tree announced that it would increase nationwide price points to $1.25 \u2014 a move that 91% of consumers are expected to accept.\u201cWe experienced a strong finish to the quarter, as shoppers are increasingly focused on value in this inflationary environment,\u201d said Dollar Tree chief executive Michael Witynski. \u201cOur Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide. Accordingly, we have begun rolling out the $1.25 price point at all Dollar Tree stores nationwide.\u201dMeanwhile, a new poll shows that 77% of Americans say inflation is impacting their lives; 57% blamed President Biden. A majority of Americans are worried they \u201cwon\u2019t be able to afford what they need during the holidays due to inflation,\u201d while 45% are worried they \u201cwon\u2019t be able to get what they need\u201d due to shortages.Another poll indicates that 96% of Americans do not believe things are going \u201cvery well\u201d in America. President Biden was denounced by 67% of respondents for his handling of inflation.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1056736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1056736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1056736"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1056736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1056736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1056736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1056736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}