The good news is that the country is opening up again after the severe disruptions caused by the pandemic. But there is a lingering impact. Sticker sh

83% Of Americans Are Belt Tightening Due To Inflation Pressures

submited by

Style Pass

2021-05-26 18:00:07

The good news is that the country is opening up again after the severe disruptions caused by the pandemic. But there is a lingering impact. Sticker shock. The US economy is picking up steam as the Labor Department is reporting the fastest pace of inflation since 2008. In April, the Index rose +4.2% compared to the same period last year. A recent survey found that 72% of those interviewed say that their income has not increased, while 86% of the respondents say they are experiencing price increases. This is taking place just as consumers are eager to be out and about and, hopefully, find some normalcy again. It is causing concern for many about shopping for the rest of the year.

Shopkick surveyed 19,000 consumers across the United States to gain insight into consumer awareness about price increases and what behavioral changes they may be taking to fight the accelerating inflation rates. The survey on which this report is based was conducted between May 14 -17, 2021.

1. 77% of Americans were aware of an acceleration of the inflation rate. In fact, 54% were very concerned about it. 42% plan to tighten their budgets lightly and 41% plan to tighten their budgets significantly.