Retail sales fell sharply in November as the holiday shopping season got under way. Shoppers slowed spending on autos and other goods as inflation cooled.
Consumer spending has held up relatively well so far despite inflation, but experts say we are approaching an inflection point.
WSJ’s Sharon Terlep explains the role elasticity plays in a company’s decision on whether to raise prices. Photo illustration: Adele MorganU.S. retail sales fell sharply in November as the holiday shopping season got under way, posting their biggest drop in nearly a year as
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