U.S. households now own roughly 52% of the stock market. And a look at three major market plunges since 2000 (see chart) shows that equities only bottomed a few quarters after significant selling activity from households occurred. – MarketWatch pic.twitter.com/7Ab0FmTW5u
— Cheddar Flow (@CheddarFlow) August 11, 2022
CPI for mayonnaise and oil dressing 🤔 pic.twitter.com/2shxFIq3cq
— Gianluca (@MenthorQpro) August 12, 2022
Online Grocery Prices Surge 13.4%, Biggest Ever
Online U.S. grocery prices surged year-over-year by 13.4 percent in July, beating the previous records of 12.4 percent in June, 11.7 percent in May, and 10.3 percent in April, according to the Adobe Digital Price Index released on Aug. 9.
Before the pandemic, online shopping was long immune to inflation, but since June 2020, online prices have persistently increased over a 25-month stretch, causing the U.S. economy to struggle in its recovery.
However, in July, total online prices declined 1 percent year-over-year and 2 percent from June, led by electronics, apparel and toys, after more than two years of inflation.
American consumers spent $73.7 billion online in July, down from $74.1 billion in June.
On a year-over-year basis, e-commerce expenditures in July grew 20.9 percent, led by the annual Amazon Prime Day, which drove record online sales for the retail industry overall.
Food prices in the US have been accelerating for three straight months. In July, they climbed 10.9% from a year ago, the most since 1979. Higher basic expenses have forced many American households to load up on credit cards and drain savings. t.co/4lP6APnA9E
— Lisa Abramowicz (@lisaabramowicz1) August 11, 2022
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By age group, Gen Xers have taken the most from savings for everyday expenses: an average of $644.
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During the first half of the year, the U.S. personal savings rate fell to 5.1% in June from 8.7% in December 2021, according to government data.
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This may a good time to scrutinize your spending if you haven’t already done so, one expert says.
as WSJ reported.. in the history, rising price of food has always led toward social unrest
price of food will explode pic.twitter.com/2OyRZPEoN5
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) August 12, 2022
Nat gas is about to make new highs right when everyone thought inflation was over.
This is perhaps the most important macro development happening today.
Wait until this turns into another domino effect for other commodities to rise. pic.twitter.com/QW00ItXeNC
— Otavio (Tavi) Costa (@TaviCosta) August 11, 2022
Americans Using Credit Card Rewards to Offset Inflation
Inflation concerns haven’t been enough to deter Americans from spending, a new study found, they are just using credit card rewards to cushion some of the blow.
Nearly half of credit cardholders are leaning on their rewards to offset rising costs of everyday purchases, according to a recent Wells Fargo study, with two-thirds of millennials reporting so. Nine in 10 of the more than 2,000 U.S. adults surveyed said they were concerned about inflation, and almost two-thirds of rewards cardholders cared about their rewards now more than ever.
The results underscore how hard Americans have been hit by rising prices, currently running near 40-year highs, though softening a bit in July, with credit cardholders using their rewards for basic expenses to ease their cash flow, the report said.
“It’s not surprising to me that across all segments of our portfolio [millennials] rely on their credit card rewards to offset some costs of everyday purchases,” Krista Phillips, executive vice president and head of branded cards and marketing for Wells Fargo, told Yahoo Money. “They make up a big cohort of customers… and we know these little redemption items really alleviate some of that extra expense when it comes to inflation.”