Inflation crisis looms over US holidays! Multiple categories will be hit hard!

It is learned that according to a research report by market research firm Numerator, the continued inflation has caused a serious blow to the financial situation of American families, and many Americans said they will cut spending in the coming months.

The study shows that in the coming months, Americans will focus on cutting spending in the following areas:

• Eating out (46%)
• Travel (44%)
• Electronic products (42%)
• Clothing (41%)
• Toys and games (32%)
• Snacks and sweets (30%)
• Alcohol (29%)
• Home and garden supplies (26%)

The following are other important conclusions of this study:

- 98% of Americans are concerned about a recession, and 77% are concerned that inflation will continue to increase. 71% believe the economy is in recession, and 70% believe the economy will get worse in the coming months.

-69% of Americans say their purchasing power is affected by rising gas prices.

-76% of Americans are concerned about rising prices for essential items, 68% are concerned about rising gasoline prices, and 62% are concerned about rising prices for non-essential items.

-Low-income people are most concerned about reductions in government benefits (e.g., disability, Social Security, EBT/SNAP) (38%).

-Middle-income people are most concerned about the impact on their retirement savings or pension benefits.

- 74% of Americans say they are cautious about spending on premium or luxury items. They are also more conscious about spending on necessities (61%), travel (57%), and dining out or ordering takeout (46%).

Editor ✎ Nicole/

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