Inelastic demand means that when the price of a good or service goes up, consumers’ buying habits stay about the same, and when the price goes down, consumers’ buying habits also remain unchanged.

Inelastic products are usually necessities without acceptable substitutes. As such, these products are things that people need in their day-to-day lives regardless of economic conditions.

With inelastic demand, demand is more resilient to changes in price and less likely to get pulled one way or the other. Of course, price isn't the only thing that can pull on demand.

Consumer staples are considered safe havens in turbulent markets due to their inelastic demand profiles. On the other hand, ...

An inelastic economic factor changes very little when another element is significantly altered. For example, if the price of gasoline were to go up significantly, demand wouldn't suddenly tank.