MADISON, Wis., Oct. 14, 2022 /PRNewswire/ — Fetch, the nation’s No. 1 consumer-rewards app, today released the latest installment of its Fetch Price Index report, which gives a real-time look at consumer behavior and retail channels in this period of runaway inflation.
Consumer prices are up 13.1% year over year — that’s the highest rate in the last 43 years, and it’s held steady at that level for the last three months. The federal government has hiked interest rates to 3.25% in an effort to slow down inflation and last month passed the Inflation Reduction Act, but consumers are still paying more for everyday essentials.
In previous months, higher prices were causing people to cut back on their purchase volume. However, demand for grocery and other everyday consumables can only be withheld to a point. But in September, consumers started showing signs that they’re accepting “the new normal” — demand is up by 4.3%, the first increase after several months in a slump. This demand for consumables rebounded as consumers likely cut back on other discretionary spend.
Shoppers are still seeking value and strategizing ways to stretch their dollar. While some relief in gas prices likely provided some flexibility, consumers are still finding ways to best manage their needs. They are taking more trips with slightly lighter baskets versus previous year to avoid higher checkout price. More households are also flocking to dollar and club stores in search of value. But even budget retailers are seeing prices surge — the inflation rate at dollar stores has increased 12.4% year over year, surpassing all other retail channels.
For this report, Fetch analyzed a panel of 465,659 shoppers, tracking 239 million in-store and e-commerce purchases over the last 24 months. This item-level view of shopper behavior captures, in real time, the true state of inflation and its impact on consumers, brands, and retailers.
Read the full report here.
ABOUT FETCH
Founded in Madison, Wis., Fetch is on a mission to help people have fun and save money on every purchase. The No. 1 rewards app on the market, Fetch has more than 17 million monthly active users who have collectively submitted more than 2 billion receipts and earned more than $475 million in rewards points. A top-ranked app in the App Store and Google Play Store with more than 3 million five-star reviews from happy Fetchers.
Media Contact:
Allison Geyer
a.geyer@fetchrewards.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/fetch-price-index-report-consumer-demand-rebounds-as-inflation-remains-stubbornly-high-301649922.html
SOURCE Fetch Rewards
The 86-year-old investing legend has spoken. You may want to pay attention.
Chances are good you're ahead of 25% of your peers.
(Bloomberg) — Investors are looking beyond a looming global recession and they see one country – and its financial markets – emerging strongest on the other side.Most Read from BloombergNATO-China Tension Over Ukraine Flares at Conference in IcelandRussia Hits Ukrainian Capital Kyiv With Kamikaze DronesPound and UK Bonds Rally; Stocks, Futures Advance: Markets WrapUS stocks and bonds will lead the way out of the current wave of market turmoil, according to respondents in the latest MLIV Pulse s
It's been quite the year on Wall Street. With declines of this magnitude, all three stock indexes are currently mired in a bear market. A "stock split" is an event that allows a publicly traded company to alter its share price and outstanding share count without affecting its market cap or operations.
(Bloomberg) — Morgan Stanley’s long-time equities bear says US stocks are ripe for a short-term rally in the absence of an earnings capitulation or an official recession.Most Read from BloombergNATO-China Tension Over Ukraine Flares at Conference in IcelandRussia Hits Ukrainian Capital Kyiv With Kamikaze DronesPound and UK Bonds Rally; Stocks, Futures Advance: Markets WrapA 25% slump in the S&P 500 this year has left it testing a “serious floor of support” at its 200-week moving average, which
Advanced Micro Devices' (NASDAQ: AMD) year went from bad to worse after the company released preliminary results for the third quarter of 2022 on Oct. 6. AMD investors pressed the panic button hard after the company revealed that its quarterly revenue would land at an estimated $5.6 billion at the midpoint of its updated guidance range. The company originally expected $6.7 billion in Q3 revenue, but a weak PC (personal computer) market has knocked the wind out of AMD's sails.
It's been a rough year for many of the highest-flying stocks of the recent past. All of the FAANG stocks have dropped significantly so far in 2022. Analysts expect that four of the five stocks in the group will deliver strong gains in the not-too-distant future.
Answer: It sounds like you’re feeling stressed about money and questioning your decisions, so we asked financial advisers and money pros what you’re doing right and what you might want to change. “I would base your savings rate towards a home, and how much you can temporarily divert from the student loan debt towards a home, on how much you think the home will cost,” says Joe Favorito, certified financial planner at Landmark Wealth Management.
Currently, AT&T sports a high 7.4% dividend yield, which means the company will pay an estimated 7.4% of its stock price to shareholders each year. This number constantly fluctuates because it is calculated using the annual dividend payout divided by the stock price. The yield rises if the dividend goes up and the stock price stays the same.
Soaring interest rates and weak economic growth have dented Wood's young, 'disruptive' technology companies.
Out of all the big banks, Bank of America has been the one that is expected to fare better in the current climate.
If you only read headlines, you might think that Beyond Meat's (NASDAQ: BYND) Friday press release announcing that the plant-based "meat" producer is shooting to be cash flow positive by the second half of 2023 was a piece of good news. Demand for plant-based meat has weakened, with consumers moving away from the category amid sky-high inflation.
Sales tax on large purchases, like a car, is crucial to factor into the price. Depending on where you live and the price of your car, sales tax can cost you thousands of dollars. But did you know there are … Continue reading → The post How to Legally Avoid Paying Sales Tax on a Used Car appeared first on SmartAsset Blog.
(Bloomberg) — Goldman Sachs Group Inc. sees attractive opportunities emerging in US stocks even as the S&P 500 benchmark remains expensive versus its history and accounting for interest rates.Most Read from BloombergNATO-China Tension Over Ukraine Flares at Conference in IcelandRussia Hits Ukrainian Capital Kyiv With Kamikaze DronesPound and UK Bonds Rally; Stocks, Futures Advance: Markets WrapThe risk-reward for the S&P 500 Index remains unattractive but “the degree of valuation dispersion wit
(Bloomberg) — It was a jarring image for one of the world’s fastest growing economies: Scores of Vietnamese flooded branches of the nation’s fifth-largest bank to pull out their savings amid rumors the lender was tied to a real estate conglomerate under investigation for fraud.Most Read from BloombergNATO-China Tension Over Ukraine Flares at Conference in IcelandRussia Hits Ukrainian Capital Kyiv With Kamikaze DronesPound and UK Bonds Rally; Stocks, Futures Advance: Markets WrapVietnam’s centra
The research firm came up with a list of the best companies to own based on ones to which Morningstar analysts assign a wide moat.
ASML Holding (NASDAQ: ASML) is one of the most important semiconductor equipment companies in the world. The Dutch company is the world's largest producer of photolithography systems, which are used to etch circuit patterns onto silicon wafers. It's also the only producer of high-end EUV (extreme ultraviolet) lithography systems, which are used to produce the world's smallest and densest chips.
A recent study from the career experts Zety says that 40% of respondents fear retirement more than death. And almost nine in 10 responded that their biggest retirement fear is not having enough income. For married couples, planning retirement for two people can … Continue reading → The post Average Retirement Savings for Married Couples By Age appeared first on SmartAsset Blog.
A new rally attempt is already struggling. Netflix and Tesla earnings loom. Shockwave is a stock to watch.
Quite a few insiders have dramatically grown their holdings in Intel Corporation ( NASDAQ:INTC ) over the past 12…