Search
Library
Log in
Watch fullscreen
2 months ago

Morning Consult Shows Consumer Spending Pullback in March Amid Higher Prices

Cheddar News
Cheddar News
According to the Morning Consult, consumer spending in March was significantly impacted by inflation even as habits changed from purchasing goods to services as pandemic restrictions ebbed. Kayla Bruun, an economic analyst for the Morning Consult, joined Cheddar News to talk about the findings."Consumers are getting more and more concerned about paying for gas, paying for groceries — all these prices that are rising so quickly for things that they really don't have the choice but to buy," she said. "They're starting to cut back on the things that are a little bit more discretionary, realizing with prices as high as they are, it's maybe not the best time to be booking a vacation or upgrading their kitchen."