Monday, December 23, 2024

Consumer Price Index - March 2024

Wed, 10 April 2024  |  consumers economy 

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in March on a seasonally
adjusted basis, the same increase as in February, the U.S. Bureau of Labor Statistics reported today.
Over the last 12 months, the all items index increased 3.5 percent before seasonal adjustment.

The index for shelter rose in March, as did the index for gasoline. Combined, these two indexes
contributed over half of the monthly increase in the index for all items. The energy index rose 1.1
percent over the month. The food index rose 0.1 percent in March. The food at home... Read More

Americans Fear Running Out of Money More Than Death, New Study Finds

Tue, 09 April 2024  |  demographics retirement 

A recent study by Allianz Life Insurance Company of North America reveals a striking concern among Americans: nearly two-thirds are more worried about depleting their retirement savings than facing death. The 2024 Annual Retirement Study underscores a growing anxiety over financial security in later years, with 63% of respondents admitting their fear of running out of money surpasses their fear of death, marking an increase from 57% in 2022.

This apprehension is most prevalent among Generation X, with 71% expressing more concern over their financial future than their mortality, compar... Read More

Consumers and Small Businesses Still Grapple with Persistent Check Fraud

Tue, 09 April 2024  |  banking consumers small business 

Despite the rapid rise of digital payment methods, checks remain a significant part of American financial transactions, with a recent survey by Abrigo unveiling the stubborn persistence of both check usage and related fraud. The survey, which sampled over a thousand U.S. adults across various demographics in March 2024, reveals a startling landscape of financial fraud, with check fraud being notably prominent among the challenges faced by consumers and small businesses.

Approximately 45% of respondents reported falling victim to financial fraud, with 17% of those experiencing check ... Read More

Financial Education Gap Leaves Middle-Income Americans Seeking More

Tue, 09 April 2024  |  consumers financial education 

The latest results from Primerica, Inc.'s Financial Security Monitor™ (FSM™) paint a stark picture of the financial education landscape in America, particularly for the middle class. An overwhelming two-thirds (66%) of middle-income Americans report feeling unprepared by their education to tackle their financial futures, a sentiment that spans across various age groups but is particularly pronounced among the younger population.

The survey highlights a growing concern over the adequacy of financial education, especially in light of recent economic fluctuations. “The slight decre... Read More

Younger Generations Lean Towards Cryptocurrency Over Real Estate, New Survey Finds

Tue, 09 April 2024  |  cryptocurrency demographics real estate 

A recent survey highlights a stark contrast in asset ownership and financial strategies between younger and older Americans, shedding light on the evolving landscape of personal finance. The 2024 Policygenius Financial Planning Survey reveals that millennials and Gen Z are almost as likely to own cryptocurrency as they are to own real estate, marking a significant shift in how these generations approach wealth accumulation.

Despite owning just 74 cents for every dollar of wealth that baby boomers amassed at the same age, millennials (ages 27-42) and Gen Z (ages 18-26) are diversifying... Read More

Households Face Financial Pressures but Remain Hopeful

Tue, 09 April 2024  |  consumers economy 

There's a notable uptick in Americans' optimism regarding their financial futures, as highlighted in the latest Consumer Spending & Saving Index from MassMutual. This quarterly index sheds light on consumer financial practices, beliefs, and expectations amid the prevailing circumstances.

"It's encouraging to see the resilience of both the American people and economy as we emerge from a year marked by uncertainty, continued inflation, high interest rates, and shifting geopolitical dynamics," remarked Paul LaPiana, the head of MassMutual's brand, product, and affiliated distribution... Read More