More than half of U.S. adults say it’s harder to afford the holiday gifts they want to give this year.
Sixty-nine percent of them say they have seen higher prices for holiday gifts in recent months, up from 58% last year, according to a new poll from The Associated Press-NORC Center for Public Affairs Research.
"I have to watch my p’s and q’s. But God has supplied all my needs and I’m not complaining," said Huffman, who will spend much of the season volunteering at food and clothing banks in her hometown of Greenville, Ohio.Shoppers walk through the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. ; consumer prices fell for the fifth straight month in November, the government said Tuesday. But prices were still 7.
"I’m less interested in going out and trying to buy things," said Coble, of Oakboro, North Carolina. "I’m not as much into it this year." Eighty-three percent said they had experienced inflationary gas prices, about the same number as last year. Seventy-four percent reported higher electricity bills, up from 57% last year.As a result, many buyers may be looking for discounts this year, and retailers are likely to respond. The average discount rate across all categories online was 31% on Thanksgiving, up from 27% last year, according to Salesforce.
Daniel Reyes, a postal worker from Midland, Texas, said he made more money than usual this year thanks to overtime. But he’s still thinking twice about what be buys in the face of steep price increases and losses to his 401 plan.
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AP-NORC Poll: Americans say holiday gifts harder to affordMore than half of U.S. adults say it’s harder to afford the holiday gifts they want to give this year. Sixty-nine percent of them say they have seen higher prices for holiday gifts in recent months, up from 58% last year, according to a new poll from The Associated Press-NORC Center for Public Affairs Research.
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