Inflation remains one of their top concerns for Americans heading into 2023, according to a new WalletHub survey.
Prices on a range of goods and services have increased by more than 7 percent since November 2021, according to the Consumer Price Index. Nearly one in three respondents from the Wallethub survey said they planned on making New Year’s resolutions focused on spending less in the new year.
The Federal Reserve has tried to lower inflationary price increases by raising interest rates throughout 2022, but this has caused higher unemployment and renewed fears the United States is heading into a recession. The Federal Reserve projects inflation for 2023 to be around 3 percent compared to its earlier target of 2 percent, affecting the cost of goods….