The financial impact of high inflation could last for years, as the steep price of everyday goods forced more Americans to drain their savings accounts.
Bullseye American Ingenuity Fund portfolio manager Adam Johnson explains which stocks to invest in amid declining inflation on ‘Varney & Co.’, but the financial pain from high prices for many households is set to linger for years to come, according to a new survey.
"Those financial sacrifices Americans have made could mean the pain from inflation lingers – even when price increases eventually reach a more desirable level," the survey said. Prices climbed 5% on an annual basis, down sharply from February's 6% increase and the smallest rise in nearly two years.Still, inflation remains about three times higher than the pre-pandemic average, underscoring the persistent financial burden placed on millions of U.S. households by high prices. . Core prices, which exclude the more volatile measurements of food and energy, climbed 0.4%, or 5.6% annually. That is up slightly from February's 5.
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