---
title: "U.S. debit card spending hits a nearly two-year high, driven by demand from high-income households"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/265575172.md"
description: "According to data from the Bank of America Research Institute, spending on credit and debit cards in the United States saw the largest year-on-year increase in October since early 2024, reflecting strong demand from high-income households and the impact of rising prices. The research shows that based on credit card data aggregated by Bank of America, household spending in October increased by 2.4% year-on-year. Compared to September, credit card spending rose by 0.3% month-on-month, marking the fifth consecutive month of increase. Meanwhile, part of the growth in retail spending may reflect price increases rather than an increase in transaction volume. Data shows that the overall inflation rate in September was 3%. Although the number of retail transactions slightly increased in October, it remains below levels seen earlier this year. Additionally, spending growth among high-income households outpaced that of low-income groups. The research institute stated that this gap is primarily due to stronger wage growth among high-income individuals, while wage increases for other groups have generally been lower"
datetime: "2025-11-12T18:54:27.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265575172.md)
  - [en](https://longbridge.com/en/news/265575172.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265575172.md)
---

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# U.S. debit card spending hits a nearly two-year high, driven by demand from high-income households

According to data from the Bank of America Research Institute on November 13, U.S. credit and debit card spending in October saw the largest year-on-year growth since early 2024, reflecting strong demand from high-income households and the impact of rising prices. The research shows that based on credit card data aggregated by Bank of America, household spending in October increased by 2.4% year-on-year. Compared to September, credit card spending rose by 0.3% month-on-month, marking the fifth consecutive month of increase. Meanwhile, part of the growth in retail spending may reflect price increases rather than an increase in transaction volume. Data shows that the overall inflation rate in September was 3%. Although the number of retail transactions slightly increased in October, it remains below levels seen earlier this year. Additionally, spending growth among high-income households outpaced that of low-income groups. The research institute stated that this gap is primarily due to stronger wage growth among high-income individuals, while wage increases for other groups have generally been lower

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- [Bank of America (BAC.US)](https://longbridge.com/zh-HK/quote/BAC.US.md)

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