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Inflation-battered shoppers cut back on their holiday spending this year — opening their wallets mainly for “big deals,” according to industry experts and newly released figures.

US retail sales rose just 3.1% year-over-year between Nov. 1 and Dec. 24 — well short of analyst forecasts of 3.7% and less than half of the 7.6% spike recorded last year, according to Mastercard.

Amazon and Walmart ramped up promotions through November to entice bargain-hunting shoppers, but analysts said the discounts were not as deep as the prior year when retailers were saddled with excess stock after the pandemic.

Arun Sundaram, an analyst at CRFA Research, said many shoppers waited for Black Friday and Cyber Monday to make holiday purchases and finished the final sprint during Super Saturday — the last shopping day before Christmas.

“Consumers are still spending, but they’re still price conscious and want to stretch their budgets,” Sundaram said.

He said the weeks between Cyber Monday and Super Saturday were a “soft period” for spending, but shoppers used the final weekend before Christmas to look for “big deals.”

Online shopping accounted for a large chunk of this year’s holiday spending. According to the Mastercard report, online retail sales jumped by 6.3% year-over-year, while in-store sales rose just 2.2%.

Apparel sales jumped 2.4%, while in-person dining at restaurants soared by 7.8%, according to the report.

There were declines in sales of jewelry (2%) and electronics (0.4%).

Ultimately, it was about getting the most bang for your buck as consumers spent on a variety of goods and services, resurfacing spending trends from before the pandemic, Mastercard senior adviser Steve Sadove said.

Americans have been saddled with soaring prices in recent years though there have been signs inflation is beginning to cool.

The Fed’s preferred measure of inflation — the Personal Consumption Expenditures price index (PCE) — rose less than expected in November.

According to the Bureau of Economic Analysis, core inflation, which excludes food and energy costs, rose 0.1% compared to October.

That was lower than the 0.2% rise forecast by economists polled by Reuters. The year-over-year increase was 3.2%, lower than Octobers 3.4% gain.

The figures signal that the Fed is winning a nearly two-year battle against inflation and further increase the odds for lower interest rates in the new year.

The Federal Reserve has signaled that it intends to slash interest rates which are currently between 5.25% and 5.5% by as much as 75 basis points in 2024.

Projections from all 19 policymakers that showed near unanimity that borrowing costs would fall next year, many of them by a substantial margin following their latest policy meeting earlier this month, when borrowing costs held steady at their 22-year high.

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Who will be the UK’s next ambassador to the United States?

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December 17, 2025

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Who will be the UK's next ambassador to the United States?

👉Listen to Politics at Sam and Anne’s on your podcast app👈

It might be the last full day of business before parliament wraps up for Christmas but there is plenty on the menu for Sam and Anne to tackle.

The duo look at:

  • The man to beat in the race to become the next UK ambassador to the United States

  • Britain looking set to rejoin the Erasmus student exchange programme but how much will it cost the taxpayer?

  • Gossip and fallout from the Angela Rayner polling about how she’s perceived with Labour voters

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UK

Teenage boy charged over murder of nine-year-old Aria Thorpe in Weston-super-Mare

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December 17, 2025

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Teenage boy charged over murder of nine-year-old Aria Thorpe in Weston-super-Mare

A nine-year-old girl found dead in Weston-super-Mare has been named on the day police revealed a teenager had been charged with her murder.

Emergency services were called to Lime Close in the Somerset town at 6.09pm on Monday but Aria Thorpe was pronounced dead at the scene.

Police said a 15-year-old boy had been charged with her murder and that a preliminary post-mortem found she died from a single stab wound.

The teenage boy – who can’t be named due to his age – will appear at Bristol Magistrates’ Court later today.

A police cordon remains in place as forensics officers continue their work.

Flowers and tributes have been left at the scene. Pic: PA
Image:
Flowers and tributes have been left at the scene. Pic: PA

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Superintendent Jen Appleford, from Avon and Somerset Police, said the community was in shock and Aria’s family were being supported by police.

“It is impossible to adequately describe how traumatic the past 36 hours have been for them and we’d like to reiterate in the strongest possible terms their request for privacy,” she said.

Supt Appleford said police were working with local schools and other agencies to make sure support is available.

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UK

Duke of Marlborough charged with strangulation offences

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December 17, 2025

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Duke of Marlborough charged with strangulation offences

The Duke of Marlborough, formerly known as Jamie Blandford, has been charged with intentional strangulation.

Charles James Spencer-Churchill, a relative of Sir Winston Churchill and Diana, Princess of Wales, is accused of three offences between November 2022 and May 2024, Thames Valley Police said.

The 70-year-old has been summonsed to appear at Oxford Magistrates’ Court on Thursday, following his arrest in May last year.

The three charges of non-fatal intentional strangulation are alleged to have taken place in Woodstock, Oxfordshire, against the same person.

Spencer-Churchill, known to his family as Jamie, is the 12th Duke of Marlborough and a member of one of Britain’s most aristocratic families.

He is well known to have battled with drug addiction in the past.

Read more from Sky News:
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Inflation falls by more than expected

Spencer-Churchill inherited his dukedom in 2014, following the death of his father, the 11th Duke of Marlborough.

Prior to this, the twice-married Spencer-Churchill was the Marquess of Blandford, and also known as Jamie Blandford.

His ancestral family home is Sir Winston’s birthplace, the 300-year-old Blenheim Palace in Woodstock.

But the duke does not own the 18th century baroque palace – and has no role in the running of the residence and vast estate.

The palace is a Unesco World Heritage Site and a popular visitor attraction with parklands designed by “Capability” Brown.

In 1994, the late duke brought legal action to ensure his son and heir would not be able to take control of the family seat.

Blenheim is owned and managed by the Blenheim Palace Heritage Foundation.

A spokesperson for the foundation said: “Blenheim Palace Heritage Foundation is aware legal proceedings have been brought against the Duke of Marlborough.

“The foundation is unable to comment on the charges, which relate to the duke’s personal conduct and private life, and which are subject to live, criminal proceedings.

“The foundation is not owned or managed by the Duke of Marlborough, but by independent entities run by boards of trustees.”

The King hosted a reception at Blenheim Palace for European leaders in July last year, and the Queen, then the Duchess of Cornwall, joined Spencer-Churchill for the reveal of a bust of Sir Winston in the Blenheim grounds in 2015.

The palace was also the scene of the theft of a £4.75m golden toilet in 2019 after thieves smashed their way into the palace during a heist.

The duke’s representatives have been approached for comment.

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