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The state of US household spending

For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.

As of August, 65% of US adults said they’d spent more on groceries and less on experiences in the past six months. Meanwhile, 59% agreed they’d spent less on experiences such as travel and dining out. Adults also reported focusing on savings while forgoing big-ticket purchases.

Beyond the chart: Consumer prices were up 8.3%year over year last month, the Bureau of Labor Statistics announced yesterday. Though high, that’s down slightly from the 9.1% hike in June and the 8.5% increase in July.

Cooling inflation would be good news for spending, particularly on experiences. Companies across the travel industry had a successful Q2, suggesting that consumers may not be cutting back on this expense all that much.

More like this:

Read yesterday’s chart of the day here.

Methodology: Data is from the August 2022 Ipsos survey, "Coronavirus Consumer Tracker." 1,119 US adults ages 18+ were surveyed online during August 2-3, 2022.