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Americans celebrate Thanksgiving which begins on November 24. And Black Friday, which follows, is usually synonymous with great discounts. But this year, inflation has gone through it. And the quest for bargains is likely to be overshadowed.
For months, prices have been soaring in the world’s largest economy. At 7.7% in October, inflation persists despite the FED’s efforts to reduce its impact.
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A year ago, it was something else entirely. Supply difficulties and factory closures due to the Covid-19 pandemic have caused stockouts. This year, manufacturers and traders have anticipated their orders. At the risk of having too many foodstuffs on your hands without being able to sell them.
The overflow of goods benefits consumers who hunt for bargains, especially in electronics and clothing.
For many Americans, life has become too expensive with rising gas and food prices. Low incomes are the most affected. Many households took advantage of government aid during Covid-19, when consumption stagnated. The savings thus built up begin to dwindle. While consumer credit is on the rise.
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