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Americans Dip Into Savings, as Inflation Continues to Bite

Americans Dip Into Savings, as Inflation Continues to Bite

Americans at all levels are losing their personal savings as inflation outstrips wages. The estimated $2.7 trillion savings of Americans is now slowly being eaten away by rapid price hikes. Data show that the US personal savings rate last month is nearly 29% below its record. According to Moody Analytics, families already spent about $114 billion o

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