Millionaires plan to cut their holiday spending due to inflation

The CNBC Millionaire Survey found 80% of millionaire respondents — those with investible assets of $1 million or more — say they plan to spend less this holiday season due to inflation. Millennial millionaires are the most likely to cut back, with 100% saying they will spend less, compared to 78% of baby boomers. When asked about how they’re responding to inflation, a majority of millionaires (52%) said they are’more price conscious’ when shopping and a third said they’re dining out at restaurants less often. . . .