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IPFS News Link • Inflation

Americans Spent More on Christmas This Year, But Not Because They're Prosperous

• by Ashley Allen Reade

While that sounds like a good sign that Americans spent more, it isn't because they are more prosperous.

They spent more because everything costs more. Inflation, officially up by 5.5%, has created artificial hope for those who look at the statistics without context.

In general, holiday spending in the United States can vary significantly from year to year and is influenced by a number of factors, including the state of the economy, consumer confidence, and cultural traditions. It is also worth noting that people's holiday spending habits can vary widely depending on their individual circumstances and priorities.

What did they spend money on?
According to Fox Business:

Americans chose to eat out during the holidays, with restaurant spending up 15.1% over the same time frame in 2021. Clothing rose 4.4%, while in-store sales rose 6.8% and online sales rose 10.6%.

During the holiday season, people in the United States often spend money on gifts for friends and family, decorations for their homes, and travel. They may also spend money on food, parties, and other holiday-related expenses. If the price of these things has increased, so too will the spending of the public.

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