February 14, 2024 9:21am EST
High inflation is still squeezing Americans' budgets
High inflation costing Americans an extra $1,109 a month compared with 3 years ago
Inflation may be gradually cooling, but the average American is still shelling out a lot more money for everyday necessities.
The typical U.S. household needed to pay $213 more a month in January to purchase the same goods and services it did one year ago because of still-high inflation, according to new calculations from Moody's Analytics chief economist Mark Zandi.
Americans are paying on average $605 more each month compared with the same time two years ago and $1,019 more compared with three years ago, before the inflation crisis began.
The analysis suggests that while inflation has fallen from the highs of mid-2022, many families have yet to see material relief.
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https://www.foxbusiness.com/economy/high-inflation-still-squeezing-americans-budgets
