COUNTY LIFE
Inflation may be slowing Santa’s shopping this Christmas season
By BARBARA GREEN
[email protected]
Consumer spending may have been strong during the Thanksgiving weekend, considered one of the busiest shopping times of the year, but high inflation is taking a toll on Christmas presents as shoppers get less “bang for their buck.”
However, despite record inflation, the National Retail Federation is expecting “healthy holiday spending,” forecasting retail sales during November and December will grow between 6% and 8% above 2021 to between $942.6 billion and $960.4 billion. Last year holiday sales grew 13.5% above 2020 and totaled $889.3 billion, shattering previous records. Holiday retail sales have averaged an increase of 4.9% during the past 10 years with pandemic spending in recent years accounting for considerable gains.
“In the face of these challenges, many households will supplement spending with savings and credit to provide a cushion and result in a positive holiday season,” said NRF President Matthew Shay.
Inflation eased slightly but remained high in October. On a monthly basis, overall consumer prices increased .4% in October while core prices advanced .3%. The food index also is up 11% in October compared to 2021.
Read the full story in the weekend Bowie News.
The 22nd annual July Jam returns on July 27 to the Bowie Community Center West Hall, 413 Pelham Street in Bowie.
There will be a “chickin’ pickin’ fiddling fun time” as guests will be entertained by amazing fiddling tunes and enjoying a chicken meal with delicious homemade jams because it wouldn’t be July Jam without it.
Tickets are just $15 with the event starting at 6 p.m. The funds raised help provide awards for the Championship Fiddler Competition during Chicken and Bread Days Heritage Festival on Oct. 5.
This attracts talented musicians from all over to visit downtown Bowie to test their fiddling skills on stage in the Bowie Fire Hall on Oct. 5.
Along with the live fiddling entertainment, come hungry and be ready to outbid your neighbors at the silent auction or just stop by for a great meal, fellowship and soak in the air conditioning.
Read the full story in the mid-week Bowie News.
The Nocona City Council met this past week making plans for budget and tax rate hearings.
Councilors received a brief update on the 2024-25 budget preparations. City Secretary Revell Hardison said the final proposal is almost complete and they now await the arrival of the no-new revenue tax rate that will be reviewed by the council after it is calculated by the tax collector.
The proposal includes a tax rate increase of about 3% similar to last year and there will be a small increase in water and sewer rates, but Hardison said the final crunch on those will come after the tax rate projections arrive.
Read the full story in the mid-week Bowie News.
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