U.S. high inflation causes huge living pressure for Americans

(Cartoon by Tan Xiguang)

The negative impact of high inflation the U.S. experienced last year lingers on, though inflation in the country has gradually eased recently.

According to a recent Federal Reserve report, a growing number of Americans are grappling with financial problems. Economic Well-Being of U.S. Households in 2022 released by the Federal Reserve revealed that at the end of 2022, 73 percent of adults were doing at least “okay” financially, which was down 5 percentage points from 2021 and among the lowest observed since 2016. Fifty-four percent of adults said their budgets had been greatly affected by price increases.

Prices of necessities such as food, gas and housing keep rising, plunging many Americans into financial difficulties and causing huge living pressure for them.