GROCERY INFLATION HAVING BIG IMPACT ON HOUSEHOLD BUDGETS
Consumers are limiting other spending to account for rising grocery prices. Seventy-two percent of Americans said that increased grocery prices were having an impact on their household budgets, with 34% citing a very significant impact and 38% citing a somewhat significant impact, according to a poll by the Consumer Brands Association and Ipsos.
CASUAL DINING RESTAURANT CHAINS STAGE COMEBACK WITH EYE-POPPING 2021 SALES
The casual-dining segment’s sales were devastated by the COVID-19 pandemic in 2020, but they surged back in 2021, with most big brands registering double-digit gains through a year that was buffeted by virus surges.
CRE OUTLOOK FOR 2ND HALF TURNS DOWNBEAT: CPE 100
Amid inflation, rising interest rates and recession fears, real estate executives’ confidence in the prospects for the industry and the economy has declined rapidly during the past few months. That is the key takeaway from the most recent CPE 100 Quarterly Sentiment Survey.
FED’S PREFERRED INFLATION MEASURE ROSE 4.7% IN MAY, AROUND MULT-DECADE HIGHS
Inflation held at stubbornly high levels in May, though the monthly increase was slightly less than expected, according to a Commerce Department gauge closely watched by the Federal Reserve. Core personal consumption expenditures prices rose 4.7% from a year ago.
AT HOME CONTINUES TO ADD MORE STORES
At Home was busy in June. The value home décor retailer opened five new stores in June, bringing its total count to 252 locations in 40 states. At Home has a long-term goal of 700-plus stores nationwide. The majority of At Home’s locations are second-generation retail.