(KERO) — The typical American spent $371 extra last month due to inflation compared to a year ago, according to Moody's Analytics.
The good news is that the cost-of-living shock appears to be easing and paychecks are starting to catch up. At the inflation peak last June, Moody's Analytics said the typical family spent an additional $502 per month compared with the year before. Those extra expenses apply to everything from rent to gas to groceries to utilities.
Some relief, however, was found at the checkout counter nationwide last month.
Prices in December inched down a bit, 0.1 percent, compared to November. Shoppers saw prices on things like chicken, fruits, and vegetables drop. However, the Labor Department's Consumer Price Index also shows December prices were about 6.5 percent higher than a year ago.
