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Retailer confidence in the first quarter of 2022 showed signs of contraction and the situation is likely to get worse with expected fuel and grain price increases due to the war in Ukraine.

Bureau for Economic Research (BER) economist Shannon Bold said the increases, driven mostly by the Russian invasion of Ukraine, are set to leave low-income households with less disposable income. Russia is a major oil producer and Ukraine is one of the main grain producers in the world...

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