Inflation Cools but Still Strains Budgets
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Inflation peaked at over 9% in mid-2022, causing financial stress for 61% of Americans surveyed. It has since cooled to 3.1% in November.
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The Federal Reserve aims for 2% inflation as ideal for a healthy economy. Inflation likely won't go away completely but should cool further over time.
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Costs of groceries, dining out, and housing are still higher than usual, so elevated inflation could persist for a while.
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Coping strategies include cutting large expenses like transportation or housing, earning extra income through gig work, and negotiating raises to keep up with costs.
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Americans remain stressed over lingering higher-than-average inflation. Trimming costs where possible, making more through side jobs, and advocating for fair pay can help manage finances.