Americans Hit with $3,000 Pay Cut as Inflation Heats up for July 4th: ‘We Don’t Know What to Do’
This summer is gearing up to be the most expensive in decades as surging prices and tightening budgets make financial freedom in 2022 more difficult.
“We don’t know what to do because the prices are increasing every single day,” said one motorist filling up her tank in the West.
In keeping track of your budget, you’ve no doubt noticed the impact of higher prices. Joel Griffith with the Heritage Foundation says most every sector is up – making summer vacations less viable for families.
“People are feeling these pinches. If you’re renting, it’s a 25% increase. If you’re buying a home, you’re seeing a 60-percent increase,” Griffith said. “And the official government response is, ‘No, you’re just seeing a 6% increase year-over-year,’ but families realize it’s far worse than that.”
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