(MENAFN- News Direct) > In July, the Wall Street Journal reported that Amazon has been quietly raising prices on its“Everyday Essentials” products, despite the company's public commitment to keep prices low amid rising tariffs and inflation.

The WSJ analyzed prices on nearly 2,500 items between January 20 and July 1, finding an average increase of 5.2%.

Amazon responded with a strongly worded rebuttal on its blog, About Amazon, calling the WSJ analysis“fundamentally flawed” and claiming the items were“cherry picked.” The company emphasized that its Everyday Essentials category includes more than six million items, most of which have not seen price hikes.

Meanwhile, independent data shows that inflation continues to strain household budgets, with consumer prices rising 2.7% in June - the largest increase in five months. With tariffs driving costs higher, even retail giants like Amazon appear unwilling to follow President Donald Trump's call to“eat the tariffs.”

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Rising inflation across the board

Investor analysis platform StockTwits reported that the 2.7% rise in consumer goods was driven by increases across several categories. According to data from the Bureau of Labor Statistics, the shelter index rose 0.2% in June, food increased by 0.3%, energy by 0.9%, and gasoline by 1%.

Speaking to CNBC , Michael Gapen, head of U.S. economics research at Bank of America, attributed the ongoing inflation to main three factors: lingering supply-chain disruptions from the pandemic, the war in Ukraine - which is driving up energy prices - and a strong labor market, with unemployment at just 3.6%.

These factors have pushed up business costs, particularly for goods and services. Combined with rising import prices, consumers are likely to feel continued financial pressure.

Read more: US car insurance costs have surged 50% from 2020 to 2024 - this simple 2-minute check could put hundreds back in your pocket

How to hunt for deals and budget during tough times

While Amazon may be raising prices - according to some reports - retailers like Walmart have kept their promise to stay affordable, even cutting some prices by 2% despite rising import costs.

To stretch your dollar further, consider the tried-and-true budgeting tips that helped past generations weather economic challenges:

Comparison shop: Amazon uses dynamic pricing strategy, meaning product prices can change frequently. Track the prices of the items you buy regularly to spot real deals. YSigning up for digital flyers from major retailers can help you compare prices and identify sales.

Buy in bulk: Planning meals ahead of time allows you to take advantage of discounts at bulk stores or during sales. Stocking up on staples when they're cheap can reduce your overall grocery spending.

Share and swap: Cut transportation costs by opting for rideshare services, public transportation, or even carpooling with friends and coworkers. For household items, electronics, and clothing, consider joining local“buy nothing” or secondhand groups online instead of buying new.

If your wallet is feeling the pinch this year, you can also trim expenses beyond food and household goods:

Audit your subscriptions: Review monthly charges for things like gym memberships, streaming services, and apps. Cancel anything you don't use on a regular basis.

Shop around for services: Compare prices for phone plans, internet, and insurance. Many providers offer lower rates to new customers or through promotions.

Rethink entertainment: Free or low-cost fun can go a long way, so consider hosting potluck dinners, joining community events or volunteer groups, and explore your local library for free books, movies, and passes to museums and attractions.

In the end, with a little planning and creativity, it's possible to cut costs without sacrificing your quality of life.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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