Today in Data: Backing Away From Big-Ticket Buying

Today in data, as inflation continues to rise, consumers begin to ease spending on major purchases.

Data

$8.4B: Amount of auto loans reported by J.P. Morgan Chase, down from $11.2 billion one year ago

5.4M: Decline in sales of existing homes between April and May

27%: Decrease in comparable sales reported by Bed Bath & Beyond, which the company attributed to a “rapid” shift in consumer spending habits

2%-5%: Projected decline in sales for the year by high-end retailer RH, as rising mortgage rates keep consumers away from its luxury home products

0.1%: Decline in personal incomes in May, according to the U.S. Commerce Department