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Increasing prices at grocery stores and gas stations, combined with shifting shopping behaviors, havetightened family budgets.
Heres an overview of thetop spending categories in 2024.
Rising interest rates slowed home purchases, while a tight housing supply and expensive building materials kept prices high.
Renters faced increased costs as landlords passed on higher property taxes and maintenance expenses.
Additionally, utility bills rose modestly due to slight hikes in electricity and natural gas rates.
High costs for livestock feed and adverse weather kept fresh produce and meat prices elevated.
While groceries didnt become affordable, the slower pace of price hikes provided some relief for shoppers.
Healthcare
The cost of health insurance kept increasing during 2024, making healthcare expensive for many.
This figure includes the costs of hospital care, doctors visits, prescription medications and broader public health efforts.
Additionally, the prices for buyingnew video gamesand renting movies online rose.
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