How to make your money go farther in 2023 to fight inflation
As inflation weighs down on American consumers, a host of government and financial rules are changing to help fight rising prices that have reduced your spending power. In many cases, the changes are intended to help people pay lower taxes and save more, too. The 12-month inflation rate hit 8.2% in September. That was down slightly from the 8.3% seen in August, but still near a four-decade high. Starting in 2023, everything from Social Security benefits to state and local minimum wages are set to adjust — in most cases at rates not seen in a generation. Some analysts and business leaders say that inflation has already peaked and that, even as prices rise , it will not be as severe as it was this summer. “Inflation continues to be a stubborn force globally, though we’ve started to see some moderating impacts in certain areas of our businesses compared to earlier in the year,” Abbott Laboratories CEO Robert Ford said Oct. 19, CNBC reported. But that higher inflation has already been bak...