Online Poll: Will High Inflation Affect Your Holiday Plans?

As Thanksgiving, Christmas, and New Year’s loom ahead, worries about high prices caused by inflation are facing many people.

The 2022 inflation rate is generally considered the highest in 40 years.

The federal Bureau of Labor Statistics in a report released earlier this year said the inflation rate for the Fiscal Year that ended on June 30 was 9.1 percent. A more recent report put the rate for October at 7.8. While that is a bit of a decrease, it still presents challenges to folks who are not seeing a similar increase in their incomes.

Prices for some items, including groceries, continue to be much higher than what we are used to.

If you are planning on any holiday road trips, gas prices have moderated somewhat in the past couple of months, but there is no guarantee of what they might look like in a few weeks.

Then again, the holidays are a special time for a lot of people. Parents with young children, for example, often want to make special memories this time of year, realizing the opportunity to do that may not last forever. The idea of going the extra mile to make memories that will last a lifetime can be hard to put a price tag on.

So what about you? Do you plan to scale back your Christmas shopping, for example? Perhaps stick a little closer to home this year?

Or are you planning on your normal holiday festivities?

Let us know what you think!