Bank of America Survey Reveals Gen Z Adapting to Inflation, Prioritizing Home Cooking and Essentials
October 13, 2023
Reuters
Persistent inflation has led 73% of Gen Z Americans, ages 18 to 26, to make lifestyle changes, according to a Bank of America survey. Among the changes, 43% opted to cook at home instead of dining out, 40% reduced spending on clothing, and 33% focused on essential grocery purchases. Bank of America’s CEO, Brian Moynihan, noted that consumer cash balances are decreasing, but overall financial health remains robust despite shifting spending patterns.
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