AREAS WHERE US CONSUMERS ARE CUTTING SPENDING BECAUSE OF INFLATION

Rising prices in the United States are causing adult consumers to lower their costs and cut back on spending, according to CivicScience in May.

The categories where most US consumers are cutting back are dining out (51%), clothing, toys, hobbies, gifts, and travel (all at 47%).

They are followed by entertainment (46%) and food delivery (37%).

According to Insider Intelligence/eMarketer, however, the high prices are not stopping young adult consumers. A Verasight and Bloomberg survey last month found that 27% of adult Gen Zers and millennials are making more credit card payments than the previous year.

Insider Intelligence/eMarketer