People's attitude towards spending has been influenced by the frequency and amount of stimulus checks received, causing individuals to adopt a short-term spending mindset rather than saving for the future. The substantial stimulus checks in 2020 led people to use the money for immediate gratification, assuming that future financial difficulties could be resolved by additional stimulus checks. This spending behavior, characterized by a lack of saving for unforeseen circumstances, has contributed to changes in spending habits more than the actual amount of money received. The patterns of inflation could be both transitory and persistent simultaneously, as seen in the example of 9% inflation in June 2022, which was transient due to supply chain disruptions before receding.

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