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Americans Can't Keep Up with Inflation it's Getting Worse
As the world continues to deal with the effects of a global pandemic, it's becoming clear that the effects on the economy won't be easy or quick to fix.
Even though the rate of inflation has slowed a bit in recent months, prices are still going up and up.
Many Americans' wallets are still being hurt by the high prices of essential goods and services.
For those of us who try to keep an ear to the ground and know what's going on, the effects of this inflation surge are clear as day. We can see for ourselves how hard it is for people and families to keep up with the rising costs of things like food, housing, and health care. It's sad to see how people's health, their ability to get basic needs, and even their mental health are affected by their lack of money.
One of the most troubling things about this situation is the fact that the rise in prices has made it much harder for many people to buy things. When wages and salaries stay the same but the cost of living goes up, it can cause a lot of financial stress and anxiety. People are having a hard time making ends meet, so it's not surprising that they are looking for new ways to adapt to the changes in the economy and stay afloat.
There is a sense of urgency about finding solutions to these problems because of the bad economy. People are doing things to try to lessen the effects of rising prices, like looking into different ways to work and cutting back on spending that isn't necessary. But for a lot of people, these solutions just aren't enough.
Americans are having a hard time making ends meet because the cost of living keeps going up and up. "Navigating a New Era of Financial Wellness," Bank of America's 12th annual Workplace Benefits Report, confirms that the cost of living for 71% of respondents is much higher than their salaries and wages.
The survey, which was done in February with 824 employees and 846 employers, showed that inflation is making people feel more and more worried.
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