Inflation is cooling, but prices on many items are going to stay high for months
Publishing timestamp: 2023-01-25 05:00:01
Summary
Inflation has been slowing, but prices are still higher than they were a year ago. Companies have long-term contracts that set prices in advance, and labor costs have gone up, making it difficult for prices to drop. Retailers are pushing private label products to win over consumers with cheaper prices, and if customers are price-sensitive, businesses may provide discounts.
Sentiment: NEUTRAL
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Keywords: mark zandi, kroger co, jack in the box inc, sara eisen, restaurants, breaking news: business, moody's corp, chuy's holdings inc, retail industry, sprouts farmers market inc, utz brands inc, dutch bros inc, u.s. economy, coca-cola co, rodney mcmullen, delta air lines inc, american airlines group inc, papa john's international inc, united states, target corp, united airlines holdings inc, procter & gamble co, business, james quincey, starbucks corp, business news, macy's inc, pepsico inc., gap inc,
Source: https://www.cnbc.com/2023/01/25/inflation-is-cooling-but-high-prices-will-stick-around.html