Christmas is nearing, and Joe Biden’s inflation means Santa Claus will have to make some changes this year. According to a Bankrate survey, 40% of respondents said that inflation would affect their holiday spending habits.
84% of holiday shoppers surveyed said that they would save money this year. 40% of those surveyed said they would purchase fewer products, 21% would choose to buy gifts from lower-priced brands, and 41% would search for sales and coupons. To cut costs, shoppers are looking for homemade and secondhand gifts.
Americans face bigger problems than just being able to afford presents. Biden’s inflation doesn’t only affect the Grinch who steals Christmas, but also your Christmas dinner.
The U.S. Bureau of Labor Statistics’ Consumer Price Index Summary measures the cost of groceries and grew by 13.5% in the past year.
This survey follows the Biden administration’s declaration of victory over inflation.