Americans spent like crazy during the holidays because of high inflation | CNN Business

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Americans upped their spending during this year’s holiday season, as inflation forced consumers to shell out more for retail goods and dining experiences

. US retail sales increased 7.6% during the period of November 1 to December 24, compared to the same time last year, according to the Mastercard Spending Pulse, released Monday. The index tracks in-store and online retail sales, excluding automotive sales, across all forms of payment and is not adjusted for inflation. The report is a welcome sign after a pullback in consumer spending led to a dip in US retail sales in November, despite a strong turnout for Black Friday.

5% in November from a year earlier, the Commerce Department reported Friday. “Consumers and retailers navigated the season well, displaying resilience amid increasing economic pressures,” Michelle Meyer, North America Chief Economist at the Mastercard Economics Institute, said in a statement. According to Mastercard, consumers diversified their spending to cope with higher prices and prioritized dining out and other experiences.

 

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Americans spent more this holiday season because of corporate greed. Fixed it for you.

Let's go Brandon

“Inflation means numbers go up”

How you gonna be pissed about inflation but not cut your spending on the unnecessary? 🤷🏾‍♂️🤣

Iransrevolution Angela Jolie's interview with Roya(Mino Majidi's daughter)whose mother was killed by the security forces during the demonstration President Emmanuel Macron also expressed his solidarity with the revolution of the Iranian people in his meeting with Roya and (1/1)

🧵1/2 - Source: CNN- Source: CNN Business- Source: CNN Business- Source: CNN Business- Source: CNN Business

Get used to it. Keep voting democrat.

Cnn is fake NEWS

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