Get Ready Consumers: Prices are on the Rise
Consumer spending has been up since Christmas but that may change soon. Prices for everything from a new t-shirt to a new dishwasher are expected to go up. This comes on the backs of increases in commodities; prices for cotton, copper, corn are hitting the highest levels in years. Motoko Rich of The New York Times says add more expensive overseas labor costs and utilities to the mix, and you may be looking at paying considerably more for those new jeans this fall.
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