"Consumers' Winning Battle Against Price Increases and Inflation"

Consumers in the US are pushing back against price increases by switching to store-brand items, discount stores, and buying fewer items, leading to a slowdown in inflation. This resistance has forced large food companies to slow down their price increases. President Biden has criticized corporations for price-gouging and "shrinkflation." Companies like Kraft Heinz and Unilever have seen sales fall after raising prices, prompting them to rein in price increases and focus on boosting sales. Federal Reserve officials expect inflation to fall back to the 2% annual target, citing consumers' growing reluctance to pay high prices as a key reason.