Consumers are plainly tired of the fight for affordability and are pessimistic about regaining purchasing power in the near future, which might dampen winter holiday sales with the US dollar only worth roughly 88 cents in real terms under inflation pressures in 2022.
Experts polled about 2,170 respondents for the article Consumer Inflation Sentiment: Inflation Slowly Ebbs, But Consumer Outlook Remains Doomy to study consumer expectations for economic recovery.
Price increases would be unsustainable, according to 61% of those questioned. According to the Bureau of Labor Statistics, the average price increase for consumer goods in August was 8.3%, the lowest increase in six months but still higher than the 8.1% predicted.
Price increases would be unsustainable, according to 61% of those questioned. According to the Bureau of Labor Statistics, the average price increase for consumer goods in August was 8.3%, the lowest increase in six months but still higher than the 8.1% predicted.
According to inflation mood research, the average consumer expects inflation to persist at its current rate for more than 22 months. Consumers who struggle to pay their bills and live paycheck to paycheck are the most pessimistic; 28% believe inflation will continue at its current rate for more than two years.
Despite somewhat more optimistic predictions from the BLS, our research reveals that consumers are not feeling the heat since they believe that we will continue to cope with high costs and tight budgets for some time to come.
Many people remain skeptical despite the fact that job growth, declining gas costs, and other indicators show that we are not in a recession.
