"Consumers' Successful Resistance to Price Hikes"

Consumers are pushing back against price increases by shifting to store-brand items, discount stores, and used cars, prompting large food companies to slow their price increases. President Joe Biden has criticized corporations for excessive price hikes and "shrinkflation." Economists believe that consumer resistance will help ease inflation, as companies are now facing consumer reluctance to pay high prices and are expected to impose smaller price increases this year.