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US Thanksgiving food costs are volatile amid rising wholesale turkey prices due to avian flu, while consumer sentiment hits 40-year lows. Retailers and politicians present conflicting data on affordability, with some claiming prices are down, but wholesale costs and consumer worries suggest ongoing inflation pressures.
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Recent surveys indicate US consumer confidence has fallen to its lowest since April, driven by inflation, labor market concerns, and political uncertainty. Despite delayed official data, Americans report rising prices, especially in food and dining out, impacting spending and economic outlook. The Federal Reserve faces a delicate balancing act ahead of its rate decision.
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Japan's economy contracted by 0.6% in the third quarter, revised from earlier estimates. Exports declined slightly, and private residential investment fell 8.2%. U.S. tariffs on autos and imports have strained Japan-U.S. relations, while Japan's new prime minister seeks economic revival.