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Holiday sales up 7.6% despite the squeeze of inflation

Holiday sales rose this year as American spending remained resilient during the critical shopping season despite surging prices on everything from food to rent, according to one measure. Holiday sales rose 7.6, a slower pace than the 8.5% increase from a year earlier when shoppers began spending the money they had saved during the early part of the pandemic, according to Mastercard SpendingPulse, which tracks all kinds of payments including cash and debit cards.

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NEWS BRIEFS

Wire reports Mega Millions Tuesday jackpot surpasses estimated $565M The holiday shopping season — for Mega Millions lottery ticket buyers, at least — is ramping up as officials say the estimated jackpot for Tuesday night’s drawing has surpassed half a billion dollars. As of late Monday, lottery officials estimate Tuesday’s prize at $565 million — or more than $293 million if delivered in cash — after there were no lucky winners holding a ticket that matched all six numbers in the last drawing held on Friday.

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