Thrift shop business booms as inflation throttles American bank accounts

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MAKING ENDS MEET: Thrift stores sees big sales boost as inflation soars

Wells Fargo Investment Institute Head of Global Market Strategy Paul Christopher provides professional analysis of the U.S. economy in response to July’s consumer price index report being ‘better than expected.’sky-high inflation"We're up maybe 30 percent over last year and last year was a pretty good year," Scott Freedman, the founder of the children’s resale store Lots for Tots in Maine, told WGME.

People sift through used clothes that are sold by the pound at a Goodwill Outlet Center on July 27, 2022 in Hackensack, New Jersey. "Buying things retail right now is just like throwing your money away," thrifter Alecia McCray told the Advocate. Business is expected to increase as back-to-school season picks up steam this month and parents look for more affordable gear for their kids.

 

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