95% of people with annual incomes below $75,000 said they are feeling stressed about inflation
. Welker recommended using credit cards only when needed to meet basic expenses, and shifting habits instead to reduce dining out, entertainment and other leisure spending.
"Be more mindful of your spending," Welker suggested."Figure out where you might be able to cut or trim back, find less expensive alternatives." He added consumers may soon feel relief as the federal government works to combat inflation, but only those who rein in their credit-card use. "The Fed is still raising interest rates trying to tame inflation," Welker pointed out."Potentially, at some point later in the year, we finally start to see that come down to a more manageable level."
In another survey, by Clever Real Estate, 40% of Americans believe high prices are the"new normal," and 62% say they expect everyday prices will be even higher this year.
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