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Long Island and national retailers will roll out discounts on Black Friday, hoping to draw customers to the unofficial kickoff of the holiday shopping season.Yet holiday retail spending is expected to grow modestly this year with consumers still shell-shocked over recent years’ soaring inflation, retail experts said. The U.S. inflation rate has fallen after soaring to a 41-year high of 9.1% in June 2022. The rate in October rose modestly to 2.6% compared to the same month last year.Even with prices coming down in general, or an expectation that they will, consumers contending with “inflation fatigue” will spend cautiously and look for deals this holiday season, said Lauren Slade, retail director at S&P Global Ratings in Manhattan.“Value perception will be key. We expect some of the … better-positioned sectors would be value-oriented sectors like discounters, big-box retailers, like a Walmart, other off-price names that are better positioned to meet demand for budget conscious shoppers,” she said. W …
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