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Economics4h 31m ago
Bank 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.
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New York
Who
Bank of America CEO Brian Moynihan, NBC News
What
Bank 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.
When
Sun, 14 Jun 2026 22:53:45 GMT · 4h 31m ago
Where
New York ·
Why
Consumers are adjusting their spending due to rising inflation and increased gas prices.
The Frontline Impact
How this affects you
This trend of consumers trading down indicates that households are feeling the pinch of economic pressures, potentially leading to widespread shifts in purchasing behavior across various sectors, even as overall spending remains up.
Story chain
6 events in this thread- Economics4h 31m 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 31m 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 31m 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 31m 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
- Currently Reading4h 31m 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.
- Economics4h 31m 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.Open article