5 ways Americans are preparing for even higher inflation, according to a new poll
. And while some economists see March as representing peak inflation, most households aren't so hopeful.
in May, signaling the labor market is still recovering amid rising interest rates. Consumer spending — a crucial fuel for economic growth — has also held strong. Yet inflation can be influenced by Americans' expectations, and the new poll hints there's little hope for the price rally to slow. By comparison, 81% of Americans said the same in July of 2008, when the country was mired in the GreatHouseholds are also reining in their spending on goods and services that are less important for day-to-day living. Seventy-seven percent of respondents said they decreased their spending on entertainment or eating out in recent months, according to the poll.
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