Inflation Hit Americans’ Finances Last Year, Fed Finds

Share of adults who reported being worse off financially is highest since 2014, annual survey says

Americans reported a sharp decline in their financial well-being last fall as high inflation eroded earnings and savings, according to a Federal Reserve survey released Monday.

The survey, conducted in October 2022, found that rising prices left more families in an economically precarious place, though households continued to benefit from a strong labor market.