Inflation’s Grip on Marketing Budgets Is Easing

Inflation’s Grip on Marketing Budgets Is Easing—But Unevenly

After two years of price hikes, squeezed margins, and frozen marketing plans, signs of stability are finally emerging. According to new 2025 survey data, only 43.5% of marketers say inflation is impacting their budgets—down from 48.7% in Fall 2024.

This isn’t a full rebound, but it’s a directional shift. Budget conversations are slowly moving from cost-cutting to controlled reallocation. In a climate where marketers have had to fight for every dollar, even a modest pullback in inflationary pressure offers breathing room.

Who’s Still Cutting, and Who’s Recovering?

The recovery isn’t uniform. B2C product marketers are still feeling the squeeze—nearly 48% say they’re facing budget cuts tied to inflation, compared to just 40% in B2B. Certain industries are under even greater strain: 85.7% of Transportation companies and 70% of Media firms say their marketing budgets have taken a hit.

In contrast, B2B sectors such as professional services and SaaS have shown more resilience. These marketers are shifting toward performance-oriented tactics and exploring leaner strategies without slashing topline budgets.

Where Are Those Dollars Going?

While fewer marketers are cutting, only 17% say they’re increasing spend. The majority are holding budgets steady—but reallocating internally to double down on proven ROI. Paid search, influencer campaigns with direct attribution, and CRM-driven nurture campaigns are seeing renewed attention.

Even as inflation fades from headlines, its effects remain embedded in marketer psychology: caution, efficiency, and adaptability continue to define planning.

Macro Tailwinds: Inflation Is Cooling

There’s reason for optimism. After peaking in 2022, global inflation has steadily declined. In major economies like the U.S., eurozone, and Brazil, consumer price inflation has dropped several percentage points. Wage pressures are also easing, helping stabilize ad production and media buying costs.

The Road Ahead: From Cuts to Caution to Confidence?

If current trends hold, 2026 could be the first year since the pandemic where most marketers plan with confidence rather than constraint. But that depends on interest rates, election cycles, and consumer demand.

In the meantime, marketing leaders should:

• Prepare flexible budgets that can pivot quarterly

• Prioritize channels that deliver measurable impact

• Watch sector-specific inflation inputs (labor, media costs)

• Align closely with finance on scenario planning

The path forward is still bumpy—but for the first time in years, it’s not all downhill.