Inflation in the United States is still felt by average Americans amidst the talk about it slowing down.

Inflation in the United States make living hard for average Americans (Photo: iStock)

Inflation in the United States may be cooling down but for the average American, it sure does not feel like it.

In the article posted by Bloomberg, there has been talk that the inflation in the United States is slowing down, but seeing the prices for most goods, it definitely is not much cheaper.

Inflation in the United States is said to be cooling down, and while it is true that the prices of produce are growing at a slower pace, for the people, it is still affecting their living, with prices still higher than what they can afford.

The Bureau of Labor Statistics published a report of the average price that Americans are spending. Inflation in the United States has made the most basic necessities cost a dollar or two more than it did before the pandemic. The rate of the inflation in the United States peaked at 9.1% just last June, which was the highest in the last four decades. It was only recently that the earnings growth started to outpace the inflation in the United States, but before then, the past two years Americans have experienced a decline of purchasing power.

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Inflation in the United States overhangs Joe Biden’s presidency.

Biden’s approval rating has been consistent below 50% for the past two years since the inflation in the United States ramped up, according to Gallup.

Easing the inflation in the United States does not simply take away the sacrifice that the average Americans did to be able to afford basic necessities. Due to the inflation in the United States, citizens have been relying more on the use of credit cards and rather are saving less, which pushed the delinquency rates up.

It is also noted that the pain of the inflation in the United States would be much worse if not for a strong labor market. Despite the inflation in the United States, employers are still continuing to add jobs as unemployment remains low, making consumers able to keep spending. 

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