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Consumers Cut Spending to Combat Rising Prices

As prices rise, consumers are cutting back on dining out, driving and monthly subscriptions to save money, according to CNBC.

Spending cuts: In the past six months, 53% of adults reported cutting back on dining out, 39% cut back on driving and 35% cut back on a monthly subscription, according to a CNBC+ survey of 4,000 adults taken in March.

  • Many more said they would consider making additional cost-cutting measures if high prices persist.

What they’re thinking: About half of survey respondents said they think about rising prices all the time. Fifty-five percent of those with annual household incomes of less than $55,000 said they are constantly checking costs.

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