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This is how many Americans survive in the face of inflation

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Inflation? This is how many survive in the US. After the pandemic, many Americans they trusted that there could be a slight economic improvement that would translate into a salary increase and, consequently, in the reduction of their bank debts.

However, at the moment the United States is facing a record inflation of 9.1%, which has notably influenced the increase in the prices of basic necessities, the cost of fuel and the unparalleled increase in the price of rents.

A recent study by the New York Federal Reserve, published by Diario Las Américas, reveals that 72% of US citizens and residents have had to resort to their savings to survive and others have taken on debt with loans and credit cards.

“The second quarter of 2022 showed a strong increase in mortgages, vehicle loans and credit card balances driven in part by rising prices,” Joelle Scally, from the New York Fed Macroeconomic Data Center, told this digital newspaper. .

Several economists indicated to the media that families spend almost 500 dollars more each month to acquire the same amount of goods and services that they bought on the same date last year.

“There is a push and pull between the consumer’s desire to buy what they want and the need to make concessions due to higher prices that affect their portfolios,” Marshal Cohen, chief adviser of the Retail Sector of the company, argued to CNN. market research The NPD Group.

Inflation in the United States

According to the analysis of The Americas Newspaperthe total debt of households increased by 2% and the increase in prices has notably influenced the fact that many families have had to look for alternatives to fill their pantry.

In this regard, the aforementioned media assure that there has been a trend in the purchase of frozen foods such as pizzas and potatoes, as well as the request for cheaper coupons and promotions from supermarkets.

The Dollar General chain of stores itself has referred that customers are buying “more deliberately” in these establishments. “We have seen an acceleration in our private label business in recent weeks as well. That’s a real sign that [el cliente] is starting to feel the pressure,” Dollar General CEO Todd Vasos said in a statement.

With gas prices hovering around $5 a gallon for months, many Americans have had to opt for half-filling their tanks or driving shorter distances. “The price of gas and everything else is much higher, but people have to drive,” Arie Kotler, president and CEO of Arko Corp., told CNN. “They’re still going to the gas station, but they’re recalculating how much they drive.”

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