Inflation increases "hidden consumption"! Americans spent an extra $1 trillion in 2022!

It is learned that according to Forrester research, U.S. consumers will spend $1 trillion more on goods and services in 2022 as inflation pushes up prices.

Inflation has greatly increased real personal consumption expenditures (PCE). Specifically, in 2022, American consumers spent an additional $468 billion due to rising commodity prices and an additional $636 billion due to rising service prices.

Here's how inflation affects the main categories:

Essentials: The impact of inflation is evident in categories such as gasoline, food, and beverages. Consumers paid $121 billion more in 2022 due to higher prices for gasoline and other energy commodities.

Non-essential items: Auto parts and furniture and household appliances saw the biggest price increases, with consumers paying $72 billion and $46 billion more, respectively, in 2022.

It is worth noting that the prices of TV sets, other video equipment and information processing equipment have fallen instead of rising, and entertainment products and automobiles have also declined. Jitender Miglani, senior forecast analyst at Forrester, said: "The spending growth in these categories is driven by the number of transactions, not inflation.

Editor ✎ Nicole/

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