More than half of U.S. adults say it’s harder to afford holiday gifts this year.
People carry shopping bags on Saturday, Dec. 10, 2022 at Downtown Crossing in Boston. More than half of Americans say it's harder to afford the holiday gifts they want to give this year.
And 57% say it has been harder to afford the things they want to give, a dramatic increase from 40% one year ago. The vast majority of those finding it harder to afford gifts say they've cut back on giving as a result. 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.
Coble is looking forward to spending the holidays with family. And she’s expecting a small raise in her disability payments in January.The poll shows nearly all Americans — 95% — have seen higher-than-usual prices for groceries in recent months, up from 85% last year, according to the poll. The U.S. government estimatesEighty-three percent said they had experienced inflationary gas prices, about the same number as last year.
Overall U.S. holiday sales are expected to grow at a slower pace than last year. The National Retail Federation, the largest retail trade group, expects holiday sales to grow 6% to 8% this year, down from 13.5% in 2021.
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