How is inflation impacting consumers this holiday season? [Video]

BIRMINGHAM, Ala. (WBRC) – With Christmas around the corner, many of us are heading out to stores and shopping online for our loved ones.

However, how much is inflation impacting the prices we see? A new survey shows that only 16% of people plan to spend more this year due to higher prices.

Studies indicate that the average person will spend a little over $1,000 this year—approximately $200 less than what was spent during last year’s holiday season.

UAB professor Dr. Ben Meadows notes that trends show inflation is still around 2.8%, which many people might not want to hear. He explains that while prices for specific items on our Christmas lists, like clothing and electronics, are lower compared to previous years, many shoppers are still experiencing higher prices in grocery stores.

Dr. Meadows advises you not to get overwhelmed by gift buying. Stick to a budget you can afford, and don’t feel pressured …