Measuring the Impact of Inflation on U.S. Consumer Spending
October 2022
Get an inside look into inflation psychology and consumer purchasing power in the latest whitepaper from our Morning Consult economic experts. Looking ahead, Morning Consult’s Consumer Purchasing Power Barometer points to the likelihood that real consumer spending growth is going to slow further, and possibly even contract.

Key takeaways include:
  • The return of inflation - Get an overview of the shock that precipitated the end of an era of price stability. Price sensitivity, substitutability, unavailability, purchasing difficulty and delivery delays all add into how consumers will respond.
  • Supply chains and inflation - Overall, supply chain conditions have gradually improved for most goods and services this year. Nondiscretionary goods continue to face the most pronounced supply disruptions, with categories such as groceries still registering elevated search effort and delivery delays.
  • Inflation and consumer spending - Purchases of essentials such as groceries and gas have consistently demonstrated the least sensitivity to prices, despite having registered some of the largest price increases this year. This means that rising costs for gas and food will continue to squeeze household budgets and limit total spending.