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The Impact of Inflation: Prime vs Non-prime American Households

Retrieved on: 
Wednesday, March 30, 2022
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Both prime and non-prime households are feeling the effects of higher prices notably rising gas costs, but inflation is in some cases affecting the groups differently: non-prime households are especially feeling the financial strain.

Key Points: 
  • Both prime and non-prime households are feeling the effects of higher prices notably rising gas costs, but inflation is in some cases affecting the groups differently: non-prime households are especially feeling the financial strain.
  • "Everyday American households are already under substantial financial stress from ordinary expenses," said report author and CNMC Executive Director Jonathan Walker.
  • Key findings from the CNMC report include:
    Both prime and non-prime respondents are feeling the effect of higher gas prices.
  • The CNMCs mission is to research the challenges, behaviors, and attitudes of American household finances, especially the impact of credit constraint on households financial resilience.