by Alicia Wallace
CNN
Inflation may have slowed last year, but it continued to deal heavy blows — some devastating — on Americans’ livelihoods: Nearly two-thirds of US adults were worse off because of it, and roughly 1 in 6 couldn’t pay all their monthly bills, new Federal Reserve data shows.
The Fed on Tuesday released its Economic Well-Being of US Households report for 2023, examining the financial lives of US adults and their families. The report found that 72% of adults surveyed said they were “doing okay” financially. That’s a tick lower than last year but well below the high of 78% hit in 2021 (and still above the record low of 62% in 2013).
Inflation made the financial lives “worse” for 65% of US households, according to the report. Among those, 19% said it was “much worse.”