Inflation hits lower income Americans hard
April 6, 2022
Low-income households spend 77 percent of their income on necessities compared to 31 percent for those in higher income brackets. Lael Brainard, a governor of the Federal Reserve, said lower income consumers have fewer options for saving when inflation hits. “A household that had been purchasing brand-name cereal could save money by purchasing store-brand cereal instead, perhaps even eliminating any effect of the price increase on their actual spending while purchasing the same quantity of cereal,” she said. The same is not true of consumers already buying private labels.
Recent News
Sweetgreen Introduces Steak to the Menu
Sweetgreen, known for its signature salad bowls, has introduced steak to its menu for the first time, marking a significant change for the brand.
Disney Struggles With Streaming Profitability
Disney’s recent financial report reveals a mixed bag of results, with a significant focus on the challenges of making its streaming services profitable.
Starbucks Releases Summer Menu Selections
As summer dawns, Starbucks has unveiled its seasonal lineup, featuring the debut of the Summer-Berry Starbucks Refreshers beverages, available beginning May 7 in the U.S.
Live Nation Addresses Unlikely Breakup Amid Looming DOJ Lawsuit
In a recent discourse addressing the specter of a Department of Justice (DOJ) lawsuit, Live Nation’s chief financial officer and president, Joe Berchtold, offered insights into the impending legal predicament.