Inflation's Impact on American Spending Habits: A CNBC Survey

A new CNBC and Morning Consult survey found that 92% of Americans are cutting back on their spending due to inflation, with concerns particularly heightened among middle-income Americans. Over the last six months, higher prices have led nearly 80% of consumers to cut spending on nonessential goods, like entertainment, home decor, clothing, appliances and more. Two-thirds of respondents reported spending less on essential items, like groceries, utilities and gas. Categories seeing the most pullbacks include clothing, bars and restaurants, major household-related spending, and electronics.