(Reuters) -Holiday spending by U.S. consumers is set for its steepest drop since the pandemic as shoppers — particularly Gen Z — pull back amid economic uncertainty, a PricewaterhouseCoopers survey showed.

PwC, which polled about 4,000 U.S. consumers between June and July, said shoppers on average plan to spend about $1,552 per person, down 5.3% from last year. The last comparable decline was in 2020, when average spend fell 7.6% to $1,187.

About 84% of consumers expect to curb spending over the next six months, especially on apparel, big-ticket items and dining out. More than half said price increases are likely to affect their holiday decisions.

Inflation and the economic fallout from the Trump administration’s trade policies have made shoppers more cautious about discretionary purcha

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