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American consumers should watch their spending choices to reduce the impact of excessive inflation on everyday goods, American political author and commentator Oren Cass told Consumers’ Research (CR) in a Feb. 24 webinar.
Cass spoke at “The Persistent Thief: How underestimating inflation is depriving consumers of the American Dream,” a CR event moderated by executive director Will Hild. The two discussed problems with measuring and calculating American inflation and why the typical American consumer may be concerned.
“Looking at your budget and asking, ‘what is the most my budget can afford?’ isn’t a good choice,” Cass said.
He provided a scenario where a consumer is house hunting but chooses to spend more towards the higher end of their budget. “All things considered, there’s been a growth in the size of an average house in recent decades that I think is entirely uncorrelated with people’s needs and wellbeing.”