News and Opinion: September 17, 2022. Americans Starting to Suffer Financial Hardship Due to Inflation

The inflation rate in the US continues to be at levels not seen for 40 years. The prices of energy and food are driving this inflation and actually are increasing at a faster rate than the average inflation rate.

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The chart above shows that the ones suffering the most are the lower income people. This occurs because they have less disposable income and the more necessary items such as food and energy are the ones rising their prices faster.

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This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.