The Velera Payments Index June 2024: A Deep Dive into Gasoline

Summary: Our June 2024 edition of the Velera Payments Index reveals consumer spending in debit accelerated in May while credit spending softened yet remained positive. Mixed economic indicators keep the hope of a 2024 rate decrease on the table, at least for now. We also revisit a Deep Dive into Gasoline, which has notably contributed to the higher-than-desired rate of inflation — but has recently experienced stabilization in this non-discretionary spending category.