HP Envy7645 consuming ink at alarming rate

[AFulton]

My HP Envy 7645 has been consuming ink (both black and colored) at an alarming rate. I have not increased my usage, ( and probably decreased it a bit) in the last 3 months. Did something change? If not fixable, I am going to purchase a new printer next week. I hate to leave HP but cannot afford this expensive change in consumption.

[A4Apollo]

Hey there! @AFulton, Thanks for stopping by HP forums!

I understand that your printer is consuming ink at a high rate.

Don't worry I will try to help you out.

Please try the steps recommended below.

Open Control Panel.

You can find Control Panel by right-clicking the Start menu in Windows 10/8 or through the Start button in older versions of Windows. 
Choose View devices and printers from the Hardware and Sound section.

Depending on your version of Windows, you might need to look for Printers and Other Hardware. If you see that, click it and then continue with the View installed printers or fax printers option.
On the next screen, right-click the printer you want to have print in draft mode, and then choose Printing preferences.

Go to print quality tab and select print in draft mode.

Change the DPI size to 300 DPI.
 

Try performing a hard reset on your printer.

Turn the printer on, if it is not already on.
Wait until the printer is idle and silent before you continue.
With the printer turned on, disconnect the power cord from the rear of the printer.
Unplug the power cord from the wall outlet.
Wait at least 60 seconds.
Plug the power cord back into the wall outlet.
 NOTE:
HP recommends connecting the printer power cord directly to the wall outlet.
Reconnect the power cord to the rear of the printer.
Turn on the printer, if it does not automatically turn on.
The printer might go through a warm-up period. The printer lights might flash, and the carriage might move.
Wait until the warm-up period finishes and your printer is idle and silent before you proceed.

If the issue still persists update the printer firmware and check if it helps.

Please find the link to update the firmware.

Let me know how it goes!

Have a beautiful day ahead! 🙂