PSCU Payments Index April 2022: Deep Dive on Gasoline
Summary: The April edition of the PSCU Payments Index marks the first anniversary of this monthly publication that evolved from our successful weekly transaction trend analysis launched at the beginning of the COVID-19 pandemic. This month’s report finds continued shifting consumer behavior with slowed growth in debit card purchases and continued strong growth in credit card activity. Rising energy prices are having a ripple effect on U.S. and world economies. This month, we take a deeper look into the Gasoline sector.
Subscribe to the Payments Index
*Visit our privacy policy to learn more about how we handle your data.
Key takeaways include:
- The Consumer Price Index (CPI-U) for March increased to 8.5% – a 1.2% seasonally adjusted increase and the fastest rate of inflation in 40 years.
- Gasoline prices hit a 14-year high in March at $4.32 per gallon, a 49% increase from March 2021.
- Consumer spending remains strong, with credit purchases up 22% and debit purchases up 1% year over year.
Subscribe to our mailing list to receive the PSCU Payments Index delivered directly to your inbox each month.