U.S. Supply Chains & Inflation Report: May 2022
As inflation concerns weigh on consumer purchasing behavior, it is critical to understand the relationship between supply and price dynamics and their
implications for consumer spending and overall growth. Even if monetary policy measures to tame inflation are successful, already high prices are likely to remain elevated for some time. Consumers’ response to inflation is therefore likely to play a major role in shaping the outlook for the U.S. economy.
- Supply tightness and consumer inflationary pressure increased in April, with price sensitivity, purchasing difficulty, substitutability and delivery delays all up from the previous month.
- With inflation still elevated, consumer spending growth is showing signs of losing some momentum.
- Persistent supply chain disruptions continue to impact the availability of essential goods like groceries.
About the authors
Kayla Bruun is a senior economist at decision intelligence company Morning Consult, where she analyzes consumer spending, inflation and household finance trends, leveraging the company’s proprietary high-frequency data.
Prior to joining Morning Consult, Kayla was a key member of the corporate strategy team at telecommunications company SES, where she produced market intelligence and industry analysis of mobility markets.
Kayla also served as an economist at IHS Markit, where she covered global services industries, provided price forecasts, produced written analyses and served as a subject-matter expert on client-facing consulting projects.
Kayla earned a bachelor’s degree in economics from Emory University and an MBA with a certificate in nonmarket strategy from Georgetown University’s McDonough School of Business.
Scott Brave previously worked at Morning Consult in economic analysis.