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Inflation is Taking a Bite Out of Savings

Inflation Savings

As Inflation skyrockets americans turn to their savings to pay for their bills.

As prices for everyday purchases continue to surge in the United States, many families struggle to make ends meet. And even among those who manage to keep their standard of living and pay all their bills, something’s got to give.

According to data from the U.S. Bureau of Economic Analysis, Americans are now saving less than at any point since the Great Recession, indicating that money is indeed getting tight in many households that are feeling the sting of sky-high prices for food, fuel and housing.

Inflation Takes a Bite Out of Americans’ Savings HOUSEHOLD FINANCES by Felix Richter,Jun 20, 2022