A new JD Power report published Thursday found that 62% of Americans delayed major purchases in the last month as higher gas, grocery and household costs continued straining consumer budgets.
The report said affordability concerns are intensifying across the country as inflation and higher living expenses pressure household finances. About 87% of consumers said they are worried prices for everyday goods will continue rising in the coming months, while 41% described themselves as "extremely worried," up from 37% two months earlier.
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JD Power also found that 69% of Americans remained financially unhealthy in April, with many consumers reporting weaker spending power and growing difficulty managing regular expenses. Inflation rose 3.8% year-over-year in April, marking the biggest annual increase since May 2023.
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