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Posted On: 01/14/2024 8:03:22 AM
Post# of 27264
Personal savings are up… but not quite as high as inflation
This year’s study finds that, on average, Americans’ personal savings (excluding retirement assets) stand at $65,100 – a nearly 5% increase over the $62,000 reported last year, but short of the 6.5% inflation rate the U.S. economy saw in 2022.
Meanwhile, despite the Federal Reserve’s campaign to fight inflation by raising interest rates, more than half (54%) of Americans say they expect inflation to increase further this year versus 19% who say it will decrease and 27% who say it will stay the same.
This year’s study finds that, on average, Americans’ personal savings (excluding retirement assets) stand at $65,100 – a nearly 5% increase over the $62,000 reported last year, but short of the 6.5% inflation rate the U.S. economy saw in 2022.
Meanwhile, despite the Federal Reserve’s campaign to fight inflation by raising interest rates, more than half (54%) of Americans say they expect inflation to increase further this year versus 19% who say it will decrease and 27% who say it will stay the same.
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