Global X ETFs Survey: U.S. Consumer Perceptions of Inflation
In June 2021, we surveyed 567 U.S. consumers on topics related to inflation and supply chain constraints. The purpose of the survey was to ascertain if anecdotal evidence about shortages of items like rental cars and major consumer goods was experienced by most Americans. Topics ranged from difficulties survey respondents had purchasing various items to consumer expectations for changes in wages.
- Most Americans who have tried to purchase a major good (cars, appliances, furniture, etc.) have experienced difficulties making the purchase due to lack of availability.
- Younger cohorts of Americans had more difficulties purchasing major goods due to lack of availability than older cohorts of Americans.
- Most Americans have experienced longer wait times and/or higher than expected prices as they have tried to purchase services that were constrained by COVID (dining at restaurants, air travel, hotels, rental cars, etc.).
- More Americans have had difficulties purchasing COVID constrained services than purchasing major goods (three out of four vs. two out of three).
- Older cohorts of Americans have experienced larger increases in normal recurring monthly expenses over the past six months than younger cohorts.
- Most Americans expect a larger than normal increase in prices over the next six months.
- Americans that have experienced larger increases in prices over the past six months have expectations for higher increases in prices over the next six months.
- Despite difficulties purchasing major goods and services constrained by COVID, most Americans do not expect their income to increase at a faster pace than normal.
Click here to download the Global X ETFs Survey on U.S. Consumer Perceptions of Inflation