Finance

“Inflation looks to be sapping some of Americans’ holiday cheer as they head out to buy gifts this Christmas season, according to the CNBC All-America Economic Survey. The survey found the high cost of goods has emerged as a major factor affecting how much shoppers spend and where they spend, suggesting inflation of the past several years and the rise in import goods prices from tariffs are being felt at the checkout counter. The survey of 1,000 people nationwide, with a margin of error of +/- 3.1%, found that the high cost of goods is the top reason Americans are spending less and, in a first for the survey, the main reason they are spending more. … Overall, 41% of Americans plan to spend less this year, with 42% saying they will spend about the same and 16% saying they will spend more.”