State of the US consumer: November 2025
Inflation expectations flare up as consumers continue to say they’re spending more on housing, groceries, and other essential categories
Article
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2-min read
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26 November 2025
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Deloitte Consumer Industry Center
Key insights about US consumers from Deloitte’s ConsumerSignals
- Despite a nearly 8-point gain since August, Deloitte’s financial well-being index remains down year on year (figure 1).
- Seventy-three percent of respondents expect higher grocery prices next month—up 16 points since the start of the year (figure 2).
- Spending intentions for nondiscretionary categories continue to rise, including housing, groceries, health care, and transportation (figure 4).
- Rising household costs are potentially weighing on discretionary spending intentions, which remain below 2021 levels and fell in November for the first time since June (figure 3).
BY
Stephen Rogers
United States
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