PSCU Payments Index August 2022: Deep Dive on Amazon Prime Day
Summary: In this month’s report, consumer purchasing activity remains resilient, with credit card volume growth continuing to outpace growth in debit cards, while our monthly Deep Dive looks at results from the Amazon Prime Day sale and the related big-box store sales in July.
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Key takeaways include:
- Consumer spending on cards remained resilient, with growth on credit cards outpacing growth on debit cards.
- The Consumer Price Index (CPI-U) decreased on an annual basis to 8.5% in July, influenced by lower prices in Gasoline and higher prices in Food and Shelter.
- When compared to last year’s Amazon Prime Day sale (June 21-22), this year’s event (July 12-13) showed modest growth in overall purchases, with credit and debit both up 4%.
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