The Kobeissi Letter(@KobeissiLetter):BREAKING: The US personal savings rate fell -0.5 percentage points in August, to 4.1%, the lowest level since November 2021. Since January 2025, this figure has declined -1.6 percentage points. Excluding the 2022 drop, when elevated inflation eroded purchasing power and forced American households to spend more on essentials, the savings rate is now at its lowest level since 2008. Meanwhile, the 5-year average of this metric fell to 5.4%, the lowest in 14 years. By comparison, before the 2020 pandemic, the average savings rate was ~6.0%. Households are depleting their savings amid ongoing inflation.

2026.10.02 00:39

BREAKING: The US personal savings rate fell -0.5 percentage points in August, to 4.1%, the lowest level since November 2021. Since January 2025, this figure has declined -1.6 percentage points. Excluding the 2022 drop, when elevated inflation eroded purchasing power and forced American households to spend more on essentials, the savings rate is now at its lowest level since 2008. Meanwhile, the 5-year average of this metric fell to 5.4%, the lowest in 14 years. By comparison, before the 2020 pandemic, the average savings rate was ~6.0%. Households are depleting their savings amid ongoing inflation.