You Vote: Is inflation affecting your holiday shopping?

Americans are worried about high prices but still plan to spend the same or more this holiday season.

Published: November 28, 2022 3:35pm

Updated: November 28, 2022 4:12pm

Inflation continues to hurt the economy and worry consumers heading into the holiday season.

According to an annual survey conducted by CNBC and SurveyMonkey, 67% of Americans are concerned about inflation making it more difficult for them to buy the items they want, and 69% worry a recession will limit their ability to make purchases.

However, the same survey found that the majority of Americans say they expect to spend the same (44%) or more (14%) this year. Meanwhile, anticipated cutbacks in spending among consumers are only up slightly compared to last year, 39% versus 36%.

The National Retail Federation expects shoppers to spend between 6% and 8% more than they did last year — a higher increase than normal, but inflation (averaging almost 8% at the end of last month) accounts for much of that.

What about you? How will inflation impact your gift shopping over the next month? Here's your chance to weigh in:

Will inflation cause you to cut back on holiday shopping this year?

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