This will be an incredibly expensive Christmas. Shoppers don't care
CNN
You've probably noticed that prices have gone up on groceries, essentials, home appliances, fast food and all sorts of consumer goods. Inflation is at more than a decade-long high.
That means 2021 will be among the most expensive holiday shopping seasons ever. But shoppers aren't holding back just yet. Companies are confident you'll keep paying higher prices, especially during the holidays.
They'd better be right: If consumers get sticker shock and decide to pull back spending, the US economy could be in big trouble.
Millions of Americans have taken to the skies, hit the road, fired up the barbecue grill and jumped into the pool this weekend to celebrate the start of summer 2024. Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities.