Johns Hopkins Expert: Holiday Shoppers Will Be Reluctant Spenders

Newswise — High prices due to inflation will curb consumer spending on gifts and other holiday expenses, predicts Johns Hopkins University economist Jonathan Wright.

“High inflation means that real wages of many consumers will have fallen this year which is likely to crimp their holiday spending,” said Wright. “They will likely gravitate towards those items whose prices have risen the least such as electronics and home goods due to excess inventories.”

Wright, a professor of economics, has expertise in economic forecasting and analysis. He is also an expert in econometrics, empirical macroeconomics, and empirical finance.