Consumers cut back in some places and splurge in others

High prices are prompting consumers to reduce or trade down on many everyday goods they purchase. For some this allows them to splurge on other items. “I may be wearing scratchy Amazon pajamas to bed, but at least my ($600 Italian linen) sheets are lovely,” said Davina Pike Ogilvie, a mother of two from Brooklyn,…

Americans are getting some relief from inflation

The rate of inflation has continued to slow for six straight months, dropping to 6.5 percent from nine percent last June. Lower prices at the pump and other savings have some feeling hopeful about their own personal finances. Risks of further inflation remain, however, which has economists looking to the Federal Reserve Bank and whether…

Streetwear brand features compostable clothing

Demand is growing for plant-based clothing from brands such as Unless, which claims to be “the first streetwear brand to create products that will harmlessly decompose at the end of life.” Eric Liedtke, CEO of Unless, said, “We started the company because we’re a bunch of fashion executives that got tired of the make, take…

Former Whole Foods associates’ BLM facemask suit dismissed

Three former Whole Foods employees claimed in a lawsuit that they were discriminated against when the grocer fired them for refusing to remove the “Black Lives Matter” facemasks that they were wearing on the job. A federal judge yesterday dismissed those charges, ruling that “the evidence demonstrates only that Whole Foods did not strenuously enforce…

350,000 UPS workers may walk off the job this summer

UPS and 350,000 of its workers are looking at a potential strike this summer if the delivery service and the International Brotherhood of Teamsters fail to hammer out a new labor contract. Amazon.com is UPS’s largest customer. About 40 percent of the UPS workers affected are drivers. UPS posted record profits in 2022.

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