Gen Z is being impacted by inflation more than other gens. According to a new report by Numerator, Gen Z and low-income consumers experience higher levels of inflation for everyday household goods. The prices of products they purchase have increased by 39.4% since 2018, while other gens faced the national average increase of 33.8%. This is largely because young and low-income shoppers alreadyshop at value retailers and for private label brands, giving them fewer ways to cut back any further, and tend to spend more money on quick-service restaurants. But even as prices on household goods go up, the data shows Gen Z may be less likely or less willing than their older counterparts to switch brands, downsize products, or change where they shop. (Newsweek)
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