The Velera Payments Index July 2024: A Deep Dive into Travel

Summary: Our July 2024 edition of the Velera Payments Index reveals consumer debit spending growth in June remained positive, while credit spending continued to slow. Economic indicators and the Federal Reserve Chair hinted to a possible rate decrease in the fall, while the 12-month rate of inflation dropped to 3%, in line with where it was one year ago. We also revisit a Deep Dive into Travel, a discretionary spending activity that boomed in the post-pandemic era that now shows signs of moderation.