Inflation only continues to rise, and has now reached 8.5% for the month of March in 2022. Americans are really feeling the financial strain.
Americans are feeling the financial strain as inflation breaks records, reaching the highest point is has since 1981.
Prices for things appear to be rising in every category.
Energy costs have risen the most.
In addition to already rising energy costs, the conflict between Russia and Ukraine made prices rise even more in March.
Food is up 1% for March and 8.8% in the last year, with housing up .5% for the month and 5% for the year.
It is believed that the rate of inflation is actually higher than data is showing.
The rapid rate shows long term issues ahead for Americans.
People may cancel vacations or put off big purchases like cars to save money in this economy.