Posted 12/13/2023, 1:50:56 PM
Inflation Slows Slightly But High Prices Still Burden Holiday Shoppers
- Annual inflation slowed to 3.1% in November, down from 3.2% in October, led by falling gas prices
- Shelter costs continued rising in November but are expected to moderate going forward
- Holiday spending this year is forecast to surpass pre-pandemic levels for the first time
- 71% of holiday shoppers worried about their expected spending this season due to high credit card balances
- Americans now owe over $1 trillion in credit card debt, up $48 billion in Q3 2022