Trading Down: Inflation’s Impact on Consumer Spending in July 2022

Report: Consumer Spending

Across the United States, prices have been increasing across all industries. In July, inflation stood at 8.5%, down slightly from 9.1% in June – the highest U.S. inflation seen since 1981. Total consumer card spending grew 14.6% in July compared to a year earlier. The strong jobs market and high consumer savings rates during the pandemic have aided consumers spending above inflation. However, habits are changing.

Download this report, created with Commerce Signals’ transaction data, to learn more about how recent inflation has impacted consumer spending.