Consumer

The FBI says thousands of people become a victim of holiday scams every year, and scammers are finding new ways to rob people of their money and personal information.

Best Buy founder Richard Schulze said that he is “feeling really good about the holiday season” despite rising inflation.

Goya CEO Bob Unanue told FOX Business he had “no choice” but to increase prices for goods as manufacturers and shoppers have been feeling the pinch of the rising cost of food due to supply chain disruptions, labor shortages and inflation.

The holidays could become more complicated this year as the shortage of truck drivers continues to grow.

The nation’s dairy farmers are feeling the squeeze of the pandemic, as supply chain issues are raising the cost of producing and packaging milk.

One Las Vegas company that manufactures everyday consumer items such as home audio systems says they're facing up to three-month delays to get their raw materials and another three- to four-week delay to finish the product.

Another jump in consumer prices in September sent inflation up 5.4% from where it was a year ago, matching the largest increase since 2008 as tangled global supply lines continue to create havoc.

Consumers need to prepare for a permanent increase in food prices, according to Kraft Heinz CEO Miguel Patricio.

The executive director of the Port of Long Beach, the largest container port complex in the United States, warned of an industry “crisis” over supply chain disruptions.

General Motors has issued a recall of all its Chevrolet Bolt electric vehicles across the globe after a number of the batteries installed in the cars caught fire.

Furniture sales have surged during the pandemic, leading to major backlogs at manufacturing facilities. This means consumers around the nation should expect delays on their orders. A manufacturer in Conover, North Carolina says their shipping times used to be 8 weeks, but now it's taking them 22 weeks to send orders to customers. Industry experts say supply chain shortages are also contributing to the backlog, creating the perfect storm in recent months.

Consumer confidence increased for a fifth straight month in June and returned to levels last seen before the onset of the COVID-19 pandemic.

Companies across the country are considering hiking prices to offset the surging costs of things like raw materials, energy and transportation.

The National Retail Federation on Thursday revised its annual sales forecast for 2021, now anticipating that retail sales will increase between 10.5% and 13.5% to more than $4.44 trillion this year.

General Mills has thrived amid the coronavirus pandemic with people worldwide eating more at home over the past year, but the company is downsizing its workforce as part of a push to reshape itself for the post-pandemic future, the Star Tribune reports.