Americans are spending cautiously at the end of the year.

However, surveys are showing that the situation this year doesn't look promising, as people are being more cautious with their spending. Nearly a month of US government shutdown also meant that many official economic and consumer data were not released. Most recently, consumer price index (CPI) data was released, but it was 12 days later than usual. Nevertheless, it still showed inflation, albeit slightly, had been steadily increasing since the beginning of the second quarter. Meanwhile, consumer confidence continues to decline. People are very cautious about spending.

Adam, an American, shared: "As a photographer, I have to keep an eye out for upcoming sales, like Black Friday. There might be some things I need for work. But generally, I try not to spend money, because everything is expensive these days, so I try to make the most of what I have. And if there's something particularly necessary for work, I'll consider sales as a good opportunity to save money."

"Now I just try to spend wisely on food. Everything else can be reused. You know, I have to try to find more options in my shopping cart, because new things are so expensive," said Frahydel Falchuk, an American resident.

According to the latest survey by the University of Michigan, in October, the US consumer confidence index reached only 53.6 points, a decrease of 24 points compared to a year earlier. Many economists have pointed to inflation as the main reason for this decline, leading to high prices.

Jim Aiello, co-founder of the Greenwich Economic Forum (GEF), said: "Recent trade conflicts and various tariffs are creating some instability. This instability is not only affecting production and supply chains worldwide , but it is also having a significant impact on inflation rates."

According to the latest data from the Federal Reserve Bank of St. Louis, tariffs accounted for approximately 11% of the increase in the Personal Consumption Expenditures (PCE) price index by the end of August. Consumer prices will remain a burden for people in the coming months if the trade situation becomes more complicated. However, for the Fed at this stage, combating inflation is not the top priority, as the US labor market has weakened.

The Fed will hold a two-day policy meeting on Tuesday and Wednesday. Against the backdrop of a weakening US labor market, the central bank will face a difficult task in finding a balance in interest rates, ensuring both inflation control and labor market support are achieved simultaneously.

Source: https://vtv.vn/nguoi-dan-my-chi-tieu-than-trong-dip-cuoi-nam-100251028061012571.htm