U.S. households — particularly low-income ones — are still sitting on a healthy pandemic nest egg, cushioning them for now against steep price increases on food and energy. That means that even with consumer prices forecast to have risen 8.4% in March, shoppers shouldn’t be running out of cash. That’s the finding of a new Consumer Checkpoint report from the Bank of America Institute, which showed debit and credit card spending rose 11% last month, or 6.7% on a per-household basis. The… Source link
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