Back
46· Steady
Economics4h 30m ago
Bank of America CEO Brian Moynihan stated that consumers are shifting their spending habits, such as buying less expensive pet food, to accommodate rising inflation and higher gas prices, based on aggregated internal bank data.
Archive Window: 30 Days Left
New York
Who
Brian Moynihan, Bank of America CEO
What
Bank of America CEO Brian Moynihan stated that consumers are shifting their spending habits, such as buying less expensive pet food, to accommodate rising inflation and higher gas prices, based on aggregated internal bank data.
When
Sun, 14 Jun 2026 22:53:45 GMT · 4h 30m ago
Where
New York ·
Why
Consumers are adjusting their spending due to rising inflation and increased gas prices, which have impacted their day-to-day finances.
The Frontline Impact
How this affects you
The data from Bank of America's nearly 70 million customers indicates that while consumers are making adjustments in discretionary spending, overall credit and debit card spending was up 5% in May over last year, suggesting continued economic activity despite expressed pessimism.
Story chain
6 events in this thread- Economics4h 30m agoBank of America CEO Brian Moynihan stated that consumers are shifting their spending to make room for higher gas prices, citing internal bank data.Open article
- Economics4h 30m agoBank of America CEO Brian Moynihan noted that consumers are shifting their spending, such as choosing cheaper pet food, to adapt to rising inflation and higher gas prices.Open article
- Economics4h 30m agoBank of America CEO Brian Moynihan observes consumers are shifting spending from higher-end pet food to cheaper alternatives to manage rising inflation and higher gas prices.Open article
- Economics4h 30m agoBank of America CEO Brian Moynihan noted that consumers are shifting their spending habits, such as buying cheaper pet food brands, to accommodate higher gas prices.Open article
- Economics4h 30m agoBank of America CEO Brian Moynihan observed a shift in consumer spending habits, with people choosing cheaper pet food brands as they contend with rising inflation and higher gas prices.Open article
- Currently Reading4h 30m agoBank of America CEO Brian Moynihan stated that consumers are shifting their spending habits, such as buying less expensive pet food, to accommodate rising inflation and higher gas prices, based on aggregated internal bank data.