Growing Inflation Worries Have More Consumers Tightening Their Spending, a New Survey Shows
Article Excerpt: "...consumers are pulling back on spending, saying inflation is taking its toll and that economic uncertainty has them bracing for the worst, according to a new consumer survey conducted by commerce protection leader...When asked about their spending plans in key retail verticals, consumers by significant margins said they would not be spending more in any of them this year, save for one — grocery, which continues to torment consumers with rising prices. The responses indicate that consumers are more pessimistic about the economy and their finances than they were ...Nearly 80% of consumers surveyed said inflation has caused them to cut back on spending this year. Last year the figure was 69%."
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