Americans are deferring medical care because they can’t afford it, the latest sign that surging inflation is pressuring household spending.
According to a June survey by Morning Consult, a decision intelligence company, 41% of respondents who considered but didn’t purchase a healthcare service over the prior month cited cost as the reason. The survey looks at how price-sensitive various spending categories are, and whether consumers are likely to forgo a product or service or trade down to a cheaper one amid high inflation.
in the analysis, healthcare fell alongside used vehicles and clothing as a good or service that people are relatively more inclined to walk away from if the price is too high. Gasoline and groceries, on the other hand, ranked as essentials that consumers needed regardless of price.
The healthcare findings came as a bit of a surprise. “You don’t really think of that as a discretionary service,” …
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