"Consumers Push Back Against Inflation: Retailers and Brands Take Notice"

Consumers in the US are pushing back against price increases by shifting to store-brand items, discount stores, and buying fewer items, leading to a slowdown in inflation. Large food companies have responded by slowing their price increases, and public frustration with high prices has become a central issue in President Biden's re-election bid. Consumer resistance suggests that inflation should further ease, and companies are now reining in price increases and focusing on boosting sales. Officials at the Federal Reserve cite consumers' growing reluctance to pay high prices as a key reason why they expect inflation to fall steadily back to their 2% annual target.