{
  "id": 12022066,
  "title": "Consumers Tap Reserves and Charity to Manage Inflation",
  "url": "https://urgent.news/2026/10/04/consumers-tap-reserves-and-charity-to-manage-inflation",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-04T22:33:45.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/consumer-insights/2026/consumers-tap-reserves-and-charity-to-manage-inflation/"
  },
  "original_language": "en",
  "account": "American consumers are maintaining their spending habits despite inflation, according to a Bloomberg News report. Resources they're using to manage rising prices include tapping into home equity, utilizing food banks, and seeking assistance from AI like ChatGPT in trimming grocery bills. Federal Reserve Bank of Richmond President Tom Barkin has observed this resourcefulness while reviewing company earnings reports and speaking with businesses and individuals in his district. Barkin noted that people want to maintain their lifestyle as prices increase and wage growth struggles. Despite these challenges, consumption rose at its fastest pace in over a year in August, driven by increases in categories such as cars, clothing, and restaurants. This comes as the U.S. grapples with its sixth year of inflation, with grocery prices up 32% since the start of 2020 and ground beef now averaging $7.16 per pound. Consumers like Kenny Marbry are using AI to help with grocery shopping, citing an estimated $100 monthly savings. Recent research from PYMNTS Intelligence indicates that financial strain doesn't always lead to smaller purchases; instead, consumers are shopping differently, with increased use of online grocery channels and preference for certain merchants. According to the PYMNTS report \"The New Checkout: Crimped Consumers Lean Into Online Retail and Digital Wallets,\" consumers under financial stress are 6 percentage points more likely to make their most recent grocery purchase online, with online shopping being useful in tracking expenses.",
  "summary": "American consumer spending remains undaunted by inflation, though it is requiring people to grow more resourceful. That’s according to a report Saturday (Oct. 3) by Bloomberg News, which said these resources include accessing their home equity, using food banks to save money for other purchases, or turning to ChatGPT for help in shrinking their grocery […] The post Consumers Tap Reserves and…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}