Inflation: Households are treating back-to-school spending ‘as an essential category’

As inflation continues wreaking havoc on the U.S. economy, many consumers have pulled back on their spending. But there’s one area that has remained relatively unchanged: Essential spending, like back-to-school shopping. “In the current environment, we have persistent, unacceptably high inflation across virtually all categories but certainly, especially, in energy and food prices,” Matthew Shay, …

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