Consumers face higher Mother's Day and graduation costs as prices rise
Updated
Updated · WRAL News · May 8
Consumers face higher Mother's Day and graduation costs as prices rise
8 articles · Updated · WRAL News · May 8
US restaurant prices are up 3.8%, groceries 1.9%, and air fares 14.9%, while regular petrol rose 31 cents in a week, AAA said.
Higher fuel costs linked to the Iran war are adding pressure on travel and celebration budgets, though a Raleigh florist said it has largely avoided passing increases on to customers.
The National Retail Federation still projects record Mother's Day spending of $38bn this year, even as some shoppers grow more cautious about the economy and trim discretionary purchases.
Despite economic fears, Americans plan record holiday spending. What does this 'gripe but swipe' trend reveal about modern consumer psychology?
As the Iran conflict disrupts global trade, which unexpected consumer goods could be the next to see major price hikes?