According to the Financial Times, U.S. credit card defaults increased to their highest level since the start of the 2008 Great Recession, which is a telling sign that lower-income Americans are struggling after dealing with years of high inflation.
Read More Credit Card Defaults At Highest Level Since Great Recession In 2008
Frito-Lay is reportedly recalling 13-ounce bags of its Lay’s Classic Potato Chips due to fears that they “may contain undeclared milk” which can pose a “risk of a serious or life-threatening allergic reaction” to consumers, according to the Food and Drug Administration.
Read More Frito-Lay Recalls Lay’s Classic Chips, Citing Possible ‘Life Threatening’ Allergy Risk
Inflation rose for the second consecutive month in November, with the Consumer Price Index (CPI) showing a 2.7% annual increase—still above the Federal Reserve’s 2% target.
Read More Inflation Climbs To 2.7% Amid Rising Food And Gas Prices
A U.S. district judge in Oregon has blocked a $25 billion bid by supermarket giant Kroger to take over its rival Albertsons, ruling that the Federal Trade Commission’s concerns about the merger’s impact on market consolidation were valid.
Read More Albertsons Scraps Merger, Files Lawsuit Against Kroger
Retailers are in for a mixed holiday season this year, marked by watchful consumers keeping big spending on a tight leash and vigilantly comparing prices on their mobile phones.
Read More Uncertainty clouds holiday shopping season after mixed forecasts from Walmart, Target
U.S. consumers in October, for the first time in five months, said they saw a lower risk of defaulting on their debt.
Read More US consumers see lower inflation and debt delinquency risk, NY Fed survey shows