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Inflation Stalls Income Growth, Weakening Holiday Spending

11/26/2025

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Summary

Story summary

Inflation has hindered income growth in the United States.
A JPMorgan Chase Institute analysis shows households face weak income growth and stagnant bank balances, reducing spending ahead of the holiday season.
As of October, median income growth for individuals aged 25 to 54 was 1.6% after inflation.
Prices increased at a 3% annual rate as of September, dampening purchasing power.

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Story summary

Inflation has hindered income growth in the United States.
A JPMorgan Chase Institute analysis shows households face weak income growth and stagnant bank balances, reducing spending ahead of the holiday season.
As of October, median income growth for individuals aged 25 to 54 was 1.6% after inflation.
Prices increased at a 3% annual rate as of September, dampening purchasing power.