High Inflation Continues to Strain Americans' Finances
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Inflation is still squeezing Americans' budgets - prices are up for gasoline, groceries, rent, etc. This is causing financial strain.
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Housing costs have risen sharply, with home prices skyrocketing and rents increasing over 6% year-over-year. This stretches budgets.
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Food and insurance prices also saw increases over the past month, further pressuring household finances.
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Wage growth is not fully offsetting inflationary pressures, though businesses are paying more to attract workers.
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The high cost of living under the Biden administration has led some working-class voters to consider supporting Republican candidates in the upcoming elections.