How Do Older Households React to Inflation?

Jean-Pierre Aubrey and Laura D. Quinby

Issues in Brief from Center for Retirement Research

Abstract: Without any behavioral response, high inflation generally harms older households by reducing their consumption and wealth. But new survey data show that people do respond: many near retirees and retirees cut back saving and tap existing assets; and they rarely work longer or change their asset allocation. Overall, these actions help prop up consumption today, but leave them with less wealth for consumption tomorrow.

Pages: 9 pages
Date: 2024-07
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