BIDINFLATION: Americans spending an extra $175 per month on food, fuel, housing

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Supply chain shortages and government spending has taken a toll Americans’ wallets, with households on average having to shell out an additional $175 on average for essentials like food, fuel, and housing, and analysts have no prediction to when prices will stabilize.Chief economist at Moody’s Analytics, Mark Zandi, told the New York Post that households earning the US median annual income of about $70,000 are having to spend $175 more due to the current inflation rate, which surged 5.3 percent in August compared to the same month last year.“That’s the equivalent of a full grocery, electric or cellphone bill,” Zandi said.Despite the inflation being called “transitory” by government officials, the rate is running at a 30-year high, …

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