Consumer resilience despite higher prices

Mastercard SpendingPulse | US Snapshot - March 2022

In March, total retail sales were up 8.4% year-over-year, as spending trends reinforced the diversification of consumer spending across sectors and channels, according to the latest Mastercard SpendingPulse. Michelle Meyer, U.S. chief economist, Mastercard Economics Institute said “Consumers have been resilient in the face of higher oil and food prices which have come along with a gain in overall inflation. Looking at Mastercard SpendingPulse, we see a continuation of broad-based spending.”

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