Although inflation across the U.S. is far cooler than in the post-pandemic years, millions of Americans say they still feel the pinch of rising prices, struggle to pay the bills and express concern about their financial prospects.

Price increases are nowhere near the level reached in June of 2022, when the Consumer Price Index hit a 40-year high of 9.1%. Yet many people feel squeezed by the cost of simple daily necessities, including the ability to afford healthy food , and by long-term increases in the cost of essentials such as housing and health care.

This affordability crisis is rooted in a combination of both longstanding economic issues dating back decades and more recent developments. For instance, housing costs have surged partly due to a lack of available homes, a result of

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