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Cheaper beer and cigarettes gain favor as inflation pinches shoppers

Shoppers are turning to cheap beer brands and discount cigarettes as they feel more pressure on their wallets.

U.S. consumer prices rose at an annual rate of 9.1% in June, the fastest pace in nearly 41 years, as strong consumer demand came up against persistent shortages of ‘supply. In a survey released this month by the National Retail Federation, nearly half of consumers said that due to rising prices of basic necessities, they were switching to cheaper alternatives.

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