Stretching Your Dollar: Americans Say Cost of Living is More Expensive
Despite inflation tampering down, Americans continue to report rising costs of living. Patrick Stal, chief marketing officer at Zepz, parent company of WorldRemit, joined 'Stretching Your Dollar,' to talk about WorldRemit's 2023 Cost of Living survey. It found that more than 70 percent of people reported an increase in the daily cost of living while a third also reported a decrease in disposable income.
Updated October 9, 2023 at 11:45 a.m. to note the findings came from WorldRemit's 2023 Cost of Living survey.
Ahead of the release of October's consumer inflation data Tuesday, you may notice changes from the Bureau of Labor Statistics. When it comes to how it estimates health insurance costs, the move is expected to give a boost to the U.S. inflation measure which will reverse a trend that has provided some relief.
A handful of retailers will report earnings this week, including Home Depot, Target, Walmart and Macy's, as gas prices peaked in September to the end of this latest quarter while borrowing costs remain at their highest levels in decades.
