Inflation in the United States is slowing, but prices are not decreasing, leading to changes in consumer behavior. Grocery prices have entered outright deflation, with food at home increasing only 0.1% in May 2024 and up 1.1% from a year ago. Despite this, Americans are buying less food, with spending on food at home down 3.1% in 2023 compared to 2022. Checkout terminals scanned 248 billion items in the past 12 months, down 3 billion from the prior year. At CentralMarket in Austin, Texas, prices of chicken, fish, and meat have declined recently. Online shoppers are also shifting their habits in response to inflation. Americans are spending more with credit cards, and consumer spending patterns are raising concerns about a potential recession.
US shoppers tighten their belts in a most unlikely place: the grocery store via @FT https://t.co/hYi7hu13jj
🇺🇸 US shoppers tighten their belts in a most unlikely place: the grocery store https://t.co/41lZS6Pfqk
US #consumer spending has slowed from its start-of-year clip, but remains solid thanks to income gains: 70% of American households’ #debt is in their homes, and over 90% have fixed-rate #mortgages, keeping overall debt burdens low, chart @JPMorganAM https://t.co/54Jzx7PWMg
Americans are buying less food Americans on average spent 3.1% less on food at home in 2023 than 2022 Checkout terminals at U.S. stores scanned 248bn items in past 12 months, down 3bn from prior year & 20bn fewer than year leading up to June 2020 More than three-quarters of… https://t.co/hsmzzsTqFv
Americans are spending big with credit cards. Here's what that means for the possibility of a recession https://t.co/4epQLnkWms
The latest inflation data shows rent growth in the U.S. is slowing down. Austin, Texas, is one of the places where rental rates are trending downward, but lower-income families say their rents are often staying the same or even increasing. https://t.co/CAblkXMysl
"From the bakery aisle to the dairy case, and the meat counter to the ice cream freezer, surging inflation for groceries has brought about an unexpected reality: Americans are buying less food at the store." https://t.co/2mWKVefOEr
When will the next recession hit? Ask the Stock Market: https://t.co/Mdl83A3Z0u https://t.co/DvPLj0P0xQ
Grocery Prices: food at home increased 0.1% in May 2024 & is up 1.1% from one year ago. Food inflation is slowing notably and some food prices continue to decline. I’ve noticed @CentralMarket where I shop in Austin, Texas prices of chicken, fish & meat have all declined recently. https://t.co/gyfEZlUKfo
Americans' spending patterns are flashing a warning of a possible consumer-led recession https://t.co/h51Vj4EOii
🇺🇸 Online shoppers are shifting habits in the face of inflation https://t.co/djYSMkFGaZ
US shoppers tighten their belts in a most unlikely place: the grocery store https://t.co/7imUs1064Q
Are we heading towards recession? Lipstick sales may give a clue https://t.co/K7YJqkFhuv
Grocery Prices That Are Now In Outright Deflation* https://t.co/TvpAZYvfFr
Inflation is slowing. Here's why prices still aren’t going down https://t.co/LnYkuQq2aW