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Squeezed Shoppers Tighten Belts, Cutting Back On Food As Inflation Bites

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Retail sales volumes fell 0.5% between April and May.Food stores drove the drop in sales – falling 1.6%. They’re now 2.4% below their pre-pandemic levels.The amount we spent was up 0.6% in May, up 5% in a year, and up 13% from February 2020 – before the pandemic hit.Q1 2022 hedge fund letters, conferences and more Squeezed Shoppers Tighten Belts“Squeezed shoppers tightened their belts in May, as the horror of April’s rising bills swallowed a much bigger slice of their income, and kept their appetite for spending under control. Meanwhile, rising shop prices, especially for food (food inflation …

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