This story originally appeared on Due
Seniors are paying inflated rates for groceries, gas, and holiday gifts; many continue to live and spend as if this isn’t the case.
Due – Due
According to the Labor Department, the consumer price index in the United States reached a 31-year high in October, with prices for goods and services up 6.2 percent from a year ago. The index is a measure of inflation, primarily determining how much it costs an individual to buy everything they require in life.
According to Bureau of Economic Analysis data, consumer expenditure was up 0.6 percent in September, despite the increase. According to the Federal Reserve Bank of New York, credit card balances increased by $17 billion in the third quarter. While new car sales have slowed from last year, J.D. Power predicts that 54 percent of vehicles will be…