Consumers cut discretionary spending

Rising prices have forced consumers to tighten their belts, and that means that sales of products such as barbecue kits and candles are falling off. “People are cutting back across the board. They’re driving less, they’re spending proportionately less at the grocery store. And they’re getting rid of subscriptions they don’t need,” said Yahya Mokhtarzada, chief revenue officer at Truebill.