From rent and groceries to utilities, families are paying a lot more every month as they try to keep up with inflation.
And while inflation has cooled in recent months, the typical household spent $371 more on good and services in December than a year ago, according to Moody’s Analytics.
Families are spending an estimated $82.60 more per month on shelter and $72.01 more on food, Moody’s said.
The Bureau of Labor Statistics said Thursday that Americans spent 11.8% more on groceries than a year ago. Egg prices have spiked by nearly 60% over the past year, the biggest annual increase since 1973, in part due to a supply crunch caused by avian flu.