Depleting the savings... probably nothing... 👀

"Consumers, meanwhile, are not letting modest price increases get in the way of their spending. In fact, household spending increased by 0.8% in July, which ranks as the fastest pace since January. At the same time, wage growth slowed and real disposable income (which is adjusted for inflation) fell for the first time in 13 months (shown above). So what's fueling the rise in spending? Most likely, consumers are dipping into savings: the personal savings rate fell by the most since early 2022 in July, dropping to 3.5% from 4.8%." by GRIT