A deepdive into spending through July 2022
Across the United States, prices have been increasing in all industries. In July 2022, inflation stood at 8.5%, down slightly from 9.1% in June – the highest U.S. inflation seen since 1981. Total consumer card spending grew 14.6% in July compared to a year earlier. The strong jobs market and high consumer savings rates during the pandemic have aided consumer spending above inflation. However, habits are changing.
Download this report, created with Commerce Signals transaction data, to learn more about how inflation has impacted consumer spending.