Inflation drops slightly, but continues to have an impact

The latest numbers show signs of slowing inflation, but a simple grocery run continues to impact the wallet. New federal data shows inflation eased slightly last month, but price increases are still at levels not seen decades ago. Consumer prices rose 8.3% in April from a year ago. one year. The price of gasoline has been the most notable increase compared to 2021. Energy, used cars, electricity and food are all more expensive. >> See the latest prices from gas in New Hampshire “Gasoline is going up. I’m going there now — go buy some food. Everything has gone up on every level. My salary hasn’t gone up,” consumer Roy Record said. is not alone Americans everywhere are now being forced to think about cutting back on spending News 9 sat down with financial adviser Sean Tole on Wednesday to answer questions about inflation and U.S. savings. money. He said people will have to look at their expenses and decide what is Most important. “Going on vacation, going to dinner, it’s kind of play money,” Tole said. “I would look at that second bucket, your discretionary spending, and identify where you can start cutting back there because if you do that, hopefully you have enough money to cover those necessary expenses.” Despite market volatility, Tole said it’s important to keep prioritizing your retirement savings and keep adding to your 401(k). He also had advice on student loan debt. “There’s no reason to consolidate it if you stay at the same rate, so if you can identify ways to consolidate it or change it to a lower rate, it will still work in the long run,” Tole said. you’re trying to buy a house and wait for the rates to come down, Tole said it might take a while 8-ball right now and they’re going to be forced to raise those interest rates to try and bring the rate down. ‘inflation,” Tole said. Tole said the United States is not alone. Inflation impacts countries around the world. All the questions Tole answered in his interview can be found here.

The latest numbers show signs of slowing inflation, but a simple grocery run continues to impact the wallet.

New federal data shows inflation eased slightly last month, but price increases are still at levels not seen in decades.

Consumer prices rose 8.3% in April from a year ago.

The price of gasoline was the most notable increase from 2021. Energy, used cars, electricity, and food are all more expensive.

>> See the latest gasoline prices in New Hampshire

“Gasoline is going up. I’m going now — go buy some food. Everything has gone up on every level. My salary hasn’t gone up,” consumer Roy Record said.

He is not alone. Everywhere, Americans are now forced to think about cutting back on their spending.

News 9 sat down with financial adviser Sean Tole on Wednesday to answer questions about inflation and saving money.

He said people will have to look at their spending and decide what’s most important.

“Going on vacation, going to dinner, it’s kind of play money,” Tole said. “I would look at that second bucket, your discretionary spending and identify where you can start cutting back there because if you do that, hopefully you have enough money to cover those necessary expenses.”

Despite market volatility, Tole said it’s important to keep prioritizing your retirement savings and keep adding to your 401(k).

He also had advice on student loan debt.

“There’s no reason to consolidate it if you stay at the same rate, so if you can identify ways to consolidate it or change it to a lower rate, it will still work in the long run,” Tole said.

If you’re trying to buy a home and wait for rates to drop, Tole said it could take a while.

“The Fed is behind the 8 ball right now and they’re going to be forced to raise those interest rates to try to get inflation down,” Tole said.

Tole said the United States is not alone. Inflation impacts countries around the world.

All of the questions Tole answered in his interview can be found here.

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