Richest 10% Dominates U.S. Spending
This is a U.S. news story, published by Hive.
U.S. news
For more U.S. news, you can click here:
more U.S. newsNews about inflation
For more inflation news, you can click here:
more inflation newsHive news
For more news from Hive, you can click here:
more news from HiveAbout the Otherweb
Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about inflation, you might also like this article about
spending increase. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest spending habits news, consumer spending news, news about inflation, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
wealthiest American familiesHive
•Business
Business & Economics
In the US, the top 10% of earners account for half of all consumption — Hive
81% Informative
Economic inequality in the U.S. has reached unprecedented levels, with the wealthiest 10% of the population responsible for nearly half of all consumer spending.
The wealthiest American families not only spend more but also accumulate more savings.
Between 2023 and 2024 , the richest 10% saw their spending increase by 58% , while the bottom 80% saw a much smaller increase of just 25% , which barely outpaced the 21% inflation rate.