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(LOCAL 21 NEWS) – High inflation has American households spending on average $371 more per month than they were a year earlier, according to Moody’s Analytics. But that’s "a big improvement" as inflation continues to fade, said Moody’s Analytics economist Bernard Yaros.
Back in June, at the peak of inflation, families were spending about $500 more per month compared to the year before, he said.
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Yaros said they are generally encouraged by what they’re seeing with inflation and expect it to continue to soften throughout 2023.
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