Inflation boosts U.S. household spending by $433 a month, on average, Moody’s finds
People shop at a grocery store on June 10, 2022 in New York City. Spencer Platt | Getty Images The average American household is spending $433 more a month to buy the same goods and services it did a year ago, according to a Moody's Analytics analysis of October inflation data. While down slightly from than the $445 monthly figure in September, stubbornly high inflation is stretching the typical budget. "Despite weaker-than-expected inflation in October, households are still feeling the squeeze from rising consumer prices," said Bernard Yaros, an economist at Moody's. Consumer prices jumped by 7.7% in October from a year ago, according to the U.S. Bureau of Labor Statistics. That rate is down from 9.1% in June, which marked the recent peak, and data suggests inflation may cool further in coming month s. However, October's rate is still near the highest levels since the early 1980s. Wages for many workers haven't kept pace with inflation, meaning they'v...