Wealthy Americans Drive Up $1,000 Dog Grooming and Everyday Prices
Updated
Updated · MarketWatch · Jun 13
Wealthy Americans Drive Up $1,000 Dog Grooming and Everyday Prices
2 articles · Updated · MarketWatch · Jun 13
Summary
$1,000 dog haircuts and double-digit watch price gains show affluent Americans still spending freely on “unapologetic luxury,” even as inflation persists.
That demand is no longer confined to yachts and other niche goods; economists say it is spilling into broader categories and lifting prices ordinary consumers also pay.
Wealthier households’ insulation from inflation weakens the usual pullback in spending that helps cool prices, potentially complicating the Federal Reserve’s fight against inflation.