December's CPI data revealed prices for groceries increased by 1.3% year-over-year. Consumers have felt the brunt of the inflation as, according to a report from UBS Securities, US consumers have less excess savings and have continued to shift their spending from goods to services.
UBS US Hardline & Broadline and Food Retail Analyst Michael Lasser joins Yahoo Finance to discuss the latest CPI data, what it means for consumers and retailers, and which retailer may be best suited to navigate these headwinds.
Lasser mentions Target (TGT) and Dollar Tree (DLTR) as standout opportunities. Lasser cites Target is "experiencing momentum that will drive both sales and profitability to improve in 2024" as a positive. For Dollar Tree, an easing labor market will be a "positive for dollar stores... not only because of its ability to better track and retain workers, but also consumers will have to stretch their budgets a little bit more."
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