Christmas is coming, and thanks to Joe Biden’s inflation, Santa Claus has to cut back this year. Two in five people (40%) said inflation would influence their holiday spending habits, according to a recent survey by Bankrate.
The survey found that 84% of holiday shoppers said they would try to save money this year. Of those, 40% said they would buy fewer items, 21% would buy gifts from cheaper brands, and 41% would look for coupons, sales, and other discounts. Shoppers are also considering more homemade gifts, and used or secondhand gifts to cut down costs.
Of course, Americans have bigger problems than affording presents. Biden’s inflation isn’t just the Grinch stealing Christmas this year, but also your Christmas dinner.
The U.S. Bureau of Labor Statistics’ Consumer Price Index Summary’s food at home index, which measures the price of groceries, rose by 13.5% over the previous year.
This survey comes on the heels of the Biden administration declaring victory over inflation.
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