Gen Z Suffering Worst Inflation, New Data Shows
Summary
New data shows that Generation Z is facing higher inflation than other age groups, with prices for goods they buy rising nearly 40% since 2018. One main reason is Gen Z’s higher spending on quick-service restaurants, where prices have gone up over 50%, compared to the general market increase of about 34%.Key Facts
- Generation Z includes people born from 1997 to 2012, currently aged about 14 to 29.
- Since January 2018, prices for items Gen Z buys have increased by 39.4%, compared to a 33.8% increase nationally.
- Quick-service (fast food) restaurant prices have risen 54%, much more than the overall 33.8% increase.
- Gen Z spends more money on eating out and takeout than other generations and plans to do so even more through 2026.
- The higher inflation for Gen Z is influenced by their spending habits, especially on dining out and value retailers.
- Low-income consumers also face higher inflation and have less ability to adjust their spending.
- Rising food prices and climate factors like El Niño may continue to push inflation up in the future.
- The inflation measures include everyday goods such as groceries, household items, and health and beauty products.
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