The typical American household will spend $5,915 more on everyday items this year than in 2021, with inflation running at a 40-year high and stinging prices at gas pumps and grocery store checkouts, DailyMail.com can reveal.
Householders are spending nearly $493 more each month to buy the same items they were buying a year ago, said Moody’s Analytics economist Mark Zandi, who studied the latest U.S. government price data.
He called this a ‘big deal for a household making about $60,000 per year’. The median household income in the U.S. is $67,521.
Consumers across the U.S. told DailyMail.com how they have struggled to put food on the table after inflation reached 9.1 percent — its highest rate since the 1980s — meaning cutbacks on basics such as butter and beefsteaks.
In another sign of economic strain, the U.S. slipped into a recession after Thursday’s announcement of a second straight quarterly decline in economic turnover.