BofA: Housing Costs Squeeze US Households Despite Lower Food, Fuel Spend

Bank of America Institute analysis shows US households are spending a smaller share of income on food and fuel, but housing costs remain a significant burden, even for higher-income households. This suggests persistent cost-of-living pressures concentrated in shelter, which could weigh on discretionary spending and consumer confidence. The data is based on internal BofA card data, providing a real-time read on consumer behavior.

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