You Vote: Is inflation affecting your holiday shopping?
Americans are worried about high prices but still plan to spend the same or more this holiday season.
The Facts Inside Our Reporter’s Notebook
Inflation continues to hurt the economy and worry consumers heading into the holiday season.
According to an annual survey conducted by CNBC and SurveyMonkey, 67% of Americans are concerned about inflation making it more difficult for them to buy the items they want, and 69% worry a recession will limit their ability to make purchases.
However, the same survey found that the majority of Americans say they expect to spend the same (44%) or more (14%) this year. Meanwhile, anticipated cutbacks in spending among consumers are only up slightly compared to last year, 39% versus 36%.
The National Retail Federation expects shoppers to spend between 6% and 8% more than they did last year — a higher increase than normal, but inflation (averaging almost 8% at the end of last month) accounts for much of that.
What about you? How will inflation impact your gift shopping over the next month? Here's your chance to weigh in:
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