Consumers Buckle Down On Belt-Tightening
Inflation Means Americans Now Spend $64B More on Essentials
The average household now spends 65.4% of its total income on essential purchases and more than $64B more just to buy them now than a year ago. In this month’s “Consumer Inflation Sentiment” report, PYMNTS surveyed 2,632 consumers to detail how they are preparing for a recession that most respondents believe is inevitable.