BofA Consumer Checkpoint: Total credit and debit card spending per household rose 4.3% Y/Y marking the strongest growth since early 2023

The latest BofA Consumer Checkpoint shows total credit and debit card spending per household increased by 4.3% year-over-year, driven significantly by higher gasoline prices, which surged 16.5% month-over-month.

Newsquawk StaffPublished 10 Apr 2026, 10:59 UTCOn the live feed at 10:39 UTC — 5 more headlines followed before this page went public

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BofA Consumer Checkpoint: Total credit and debit card spending per household rose 4.3% Y/Y marking the strongest growth since early 2023

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Higher gasoline prices powered some of the increase, with spending at the pump surging 16.5% M/M
However, total card spending excluding gasoline still saw healthy growth at 3.6% Y/Y

Context

Notably, even when excluding gasoline, spending remained robust at 3.6% year-over-year, indicating a resilient consumer sector that could support economic growth. This data suggests positive momentum for consumption, which is crucial for policymakers considering the growth-inflation mix.

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