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February 28, 2024
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Business

Here’s Where Americans Are Spending Their Money

Published by
The Street

By Ellen Chang Budget savvy consumers are changing the way they buy. Americans have found themselves spending the majority of their money on a narrow slice of items, as the economy continues to attempt a rebound from the pandemic. The price of many items have risen exponentially due to a higher cost from labor expenses and supply chain hurdles. Higher inflation rates have increased in various sectors, including rent, food, gasoline as well as furniture. Inflation rose to 7.9% in February. Wages have not kept up with the higher rates of inflation in many jobs, leaving consumers with less dispos…

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