You Vote: Is inflation affecting your holiday shopping?
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: