Americans say incomes not keeping up with inflation — CBS News poll
Americans express concern about their ability to pay bills and save money.
Watch CBS News
Americans express concern about their ability to pay bills and save money.
Sharp drop in closely watched consumer sentiment gauge marks the biggest monthly decline in confidence in more than four years.
The U.S. Labor Department reports that grocery prices were up 1.8% in December compared to the previous year.
Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.
Americans have struggled with high grocery costs since inflation soared during the pandemic. Now prices are falling.
The new prices are expected to be implemented on October 1 and some are not happy about it.
The monthly report is viewed as key factor in whether the Federal Reserve cuts its benchmark interest rate in September.
Egg costs are soaring as Americans' eating habits change and as a deadly disease wipes out millions of birds.
