WCPO: Inflation could cause consumers to change spending habits
UC economist says 40-year inflation high ‘affects everybody’
According to the U.S. Department of Labor, inflation is at a 40-year high. Consumers are being affected across the board with their expenditures.
“It’s more bad news for the average American consumer. Inflation affects everybody,” Michael Jones, PhD, associate professor-educator of economics at the University of Cincinnati Carl H. Lindner College of Business, told WCPO.
Michael Jones, PhD, associate professor-educator of economics at the University of Cincinnati Carl H. Lindner College of Business.
Jones said businesses should expect consumers to change their spending habits.
“There are some expenditures that they can’t go without,” Jones said. “But the things like entertainment purchases, or today is the Reds’ Opening Day, and so consumers don’t have to go to the Reds game. They can spend their money elsewhere.”
Jones said it’s unclear how long the record high in inflation will last, and that there are multiple issues contributing to these economic tough times, notably supply chain issues, the government stimulus bill and the war in Ukraine.
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
UC Law professor discusses labor dispute involving the Consumer Financial Protection Bureau
September 4, 2026
Anne Lofaso, a professor at the University of Cincinnati College of Law and former attorney for the National Labor Relations Board, spoke with Bloomberg Law about a union labor dispute involving the Consumer Financial Protection Bureau.
UC creates ‘The Why,’ a new student hub in historic YMCA building
September 4, 2026
The University of Cincinnati is creating a new student-centered hub focused on engagement, community and well-being known as 'The Why.'
Cancer Center expert urges lung cancer screenings as too few at-risk patients get tested
September 4, 2026
The University of Cincinnati Cancer Center's Robert Van Haren, MD, spoke with Local 12 about the need for more awareness and discussions around lung cancer screenings.