More than half of U.S. adults say it’s harder to afford the holiday gifts they want to give this year. In a new poll from APNORC, 69% say they have seen higher prices for holiday gifts in recent months, up from 58% last year.
About two-thirds of Americans in households earning less than $50,000 annually say they’ve had a harder time affording gifts and food for holiday meals this year, according to the AP-NORC poll. About 6 in 10 of those in households earning between $50,000 and $99,999 found it harder to afford gifts and food, along with half of higher-income households.
“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.” Tierra Tucker, a 34-year-old day care worker in Chicago, said she’s been shopping since Black Friday for her twin 13-year-old daughters and has found deals on many of the gifts they’re getting, including iPads, purses, clothes and bracelet-making kits.Tucker hasn’t cut back on gifts for her daughters this year, but she won’t be spending as much on others. Tucker recently moved and said she has had to focus on getting things for her new house.
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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