How People Plan to Cut Christmas Spending Thanks to Inflation

Published by
The Street

By Dan Weil You’ll have to be extra specially good to stay on the ‘nice’ list this year. Raging inflation already appears to have put a dent into consumer spending, with personal consumption expenditures rising only 0.1% in July. And things aren’t looking so hot for the holiday shopping season. A total of 55% of consumers said inflation will affect their holiday spending this year, according to a survey of 1,025 people from Jungle Scout, a platform for merchants to sell on Amazon. Among those whose spending will be affected, · 54% anticipate spending less on gifts per person, · 47% foresee buy…

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