Perceptions of inflation don’t always match reality—that’s one of the insights from our latest Consumer Pulse Survey. For example, US consumers believe that prices for gas and groceries have skyrocketed, which tracks with actual price increases. However, when it comes to consumer electronics, skin care and makeup, and toys and baby supplies, around 30 percent of respondents think that there’s been a significant markup in prices in at least one of these categories. The inflation for such products has been less than 2 percent.
To read the article, see “The Great Uncertainty: US consumer confidence and behavior during inflationary times,” August 16, 2022.