83% of Americans have reduced their consumption for expensive gasoline. Think of the Italians!

Provident Bank, New Jersey's leading financial institution, has released the results of its recent survey on the effects of inflation on consumption, conducted on 600 adults over the age of 18, which shows how people are heavily changing their lives. consumer habits for the expensive prices.

According to the survey results, more than 10% (10.5%) said they had eliminated all non-essential purchases and more than 70% (71.67%) said they had made at least some changes to their travel habits .

While some consumers have cut down on some non-essential expenses, such as dining out and unnecessary travel, others said they have made much more drastic changes, such as skipping meals, conserving water and cutting meat from their diet . People are feeling immense financial pressure right now. Sadly, this comes as no surprise after the Department of Labor reported earlier in the month that the US consumer price index (CPI) hit a 40-year high in May.

When asked which price increases of regularly purchased products or services have hurt consumers the most, gasoline, food and clothing were among the most cited items. Over 50% (53.33%) said they spend between $ 101 and $ 500 more per month on groceries.

With the average gasoline price in the United States peaking above $ 5 a gallon for the first time, news of canceled vacations and a drop in leisure travel began to make headlines . According to the survey results, 32% of motorists now spend between $ 101 and $ 250 more per month on gasoline, while 13.5% report a monthly increase in fuel costs between $ 251 and $ 500.

In addition to gasoline, groceries and clothing, respondents cited baby products, meat, utilities, household products, milk and alcohol as the top bills.

When asked what changes they made to travel plans and driving habits due to the rising cost of gasoline, many said they reduced or eliminated unnecessary travel, canceled annual vacations, went to find family members less frequently or by combining necessary outings such as shopping and medical visits into one trip. Among the common themes of the responses, the abandonment of the vehicle in favor of walking or cycling, the increase in the use of public transport and the replacement of older vehicles with more efficient ones from the point of view of consumption.

Other survey results:

• Nearly half (46.33%) of respondents said they used their credit card a little more often or much more often for routine purchases than the previous year.
• Of the 600 adults who completed the survey, around 41% (41.17%) said they contribute less to their savings. Of this group, about 38% (38.46%) said they had less than $ 1,000 in a personal savings account.
• Despite the current difficulties, more than half (57.83%) said they believe they will be in a better position next year.
• How consumers are saving on personal expenses, such as quitting smoking, shopping at discount stores and switching to generic products. Others take "odd jobs" to get extra income. Petrol stops are also often planned in advance.

What this survey tells us:

• if Americans consume less, they will import less, exporting the recession to Europe as well;
• our energy shock was much higher than that of the US. What happens to the consumption of Italians?

Obviously in Europe they ignore it, blaming Putin. A big lie that, sooner or later, will come to light. Sooner or later the Americans will make Biden pay, and with interest, for the destruction of wealth they are undergoing. They are not like the Italians….

---

---

The article 83% of Americans have reduced their consumption for expensive gasoline. Think of the Italians! comes from ScenariEconomici.it .

---

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/ben-83-degli-americani-ha-ridotto-i-consumi-per-il-caro-benzina-pensate-gli-italiani/ on Sun, 03 Jul 2022 17:21:46 +0000.