Consumers Have Powered Through the Pandemic and Inflation—Until Now


By Annie Gasparro and Theo Francis
At Best Buy, shoppers are cutting back purchases of electronics. EMILY ELCONIN/BLOOMBERG NEWS

The consumers who fueled the U.S. economy through the pandemic are starting to crack.

Data last week revealed new evidence from companies and the government that household spending is increasingly strained. Families are paring back purchases of items such as electronics and furniture as prices for essentials like food and gasoline have become more expensive. Inflation drove consumer spending in June to a new four-decade high while personal incomes fell when adjusting for inflation and taxes.


Publish : 2022-08-01 08:29:00

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