Inflation Changes American Spending Habits According to a recently released poll, an astonishing 77% of Americans see prices rising! 77% Americans believe inflation affects daily life
Moreover, 2/3rds of Americans are changing their spending patterns because of the jump in inflation.
Prices at the gasoline pump are some of the most noticeable price increases people are seeing. But consumers are also being squeezed at the grocery store and almost everywhere they turn.
Furthermore, the inflationary prices are not just affecting American consumers but restaurant owners to all small business owners. Everything has a higher cost than a year ago and a much higher price than 2 years ago!
A Yahoo News/YouGov survey found that 77 percent of Americans think that the inflation has recently affected their daily life to some extent.
How will many Americans be able to afford expenses moving forward? As a result of low wage growth while prices are soaring. Most Americans will find their buying power decreasing.
As a result of too much monetary pumping by the United States Government, there is now too many dollars in supply and available for people to spend. What makes gold a valuable commodity by nature is its scarcity. Even Bitcoin, makes its case for being a good investment based on its controlled output of new coins that would dilute existing coins in the marketplace.
Will President Joe Biden slow down the spending?