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How 6 Americans said they're battling rising costs in the US
USA Today • • business
Key Points:
- American consumers have faced rising inflation for five consecutive years, with prices increasing over 25%, making everyday expenses significantly more costly.
- Many individuals, like Mike DeDivitis and Esther Malkin, are struggling to cover essential costs such as car repairs, rent, and utilities, often resorting to savings or retirement funds.
- Housing affordability remains a major challenge, especially in high-cost areas like Culver City, California, where even dual-income families find it difficult to save for homeownership.
- Consumers are adjusting their spending habits by cutting back on dining out, buying off-brand groceries, cooking at home, and seeking sales to manage rising food and energy costs.
- Rising health care expenses are a growing concern, particularly for younger Americans and families, with some facing doubled insurance premiums after federal subsidy changes.
