How Are Consumers Coping with Rising Prices?

Over the past few months, rising prices have continued to shape how consumers shop, spend, and save. According to the latest wave of the US Diverse Consumer Pulse Study, most consumers, regardless of race and ethnicity, report that prices have gone up in their communities. But the impact of these increases isn’t felt equally.

Perception of Price Changes

About 70% of both the general population and Latino respondents say prices have increased in the last three months. Among Black/African American respondents, that number jumps to 76%, signaling a heightened sensitivity to inflation in this group.

Stress Levels Are Rising Too

Consumers also find these price increases stressful, with 87% of Gen Pop consumers, 90% of Latino consumers, and 86% of Black/AA consumers saying that price increases have caused at least a little bit of stress in their lives. Digging deeper, Latino consumers are significantly more likely to report that these price hikes are “very stressful”—31% compared to 23% of the general population. This stress is not just emotional; it’s driving real changes in behavior.

Coping Strategies Vary by Group

Consumers share that they are taking multiple steps to help cope with increasing prices adjusting in a variety of ways:

• Eating out less and shopping for deals are the most common tactics across all groups.

• Latino respondents are more likely to work extra shifts or jobs (16%) and increase use of credit or loans (13%)—both significantly higher than the general population.

• Switching to store brands is more common among Gen Pop (30%) than Latino (25%) or Black/AA (21%) consumers.

• One in five consumers are actively delaying major purchases like home repairs/renovations, vacations or vehicles.  

Looking Ahead with Concern

The majority of consumers express concern about continuing price increases in the future. When asked about the next six months, 42% of Black/AA and 38% of Latino respondents say they are “very concerned” about future price increases, significantly higher than the general population at 33%.

These findings reinforce what many of us already know: diverse consumers are resilient, resourceful, and deeply impacted by economic shifts. As brands and retailers plan for the future, understanding these nuanced responses is key to building trust and relevance.

Reach out if you want to learn more about how your brand can connect with diverse audiences during economic uncertainty.

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Findings shared in this blog are from the PDG Insights 2025 US Diverse Consumer Pulse Study. This is a collaborative survey concept that was designed for brands and retailers with limited budgets to cost-effectively explore how Latino and African American/Black consumers compare to the General Population on topical concepts, key trends, and custom brand, merchandising, and marketing strategies, while tracking behavior over time. Reach out to Diana Leza Sheehan, founder of PDG Insights, to learn more about if our Collaborative Surveys can help you meet your learning agenda needs.

Spending questions evaluated in this study were a collaboration with Retail Cities, a global retail insights and consultancy firm.