Sixty percent of all Americans reported living paycheck to paycheck as inflation rates have caused high prices in gas, groceries and other commodities.
The consumer price index, a measure of food, shelter and medical care prices, among other things, rose 8.3 percent in August — more than was expected by most economists.
Real average hourly earnings are down 2.8 percent from a year ago, and 71 percent of workers feel that their pay cannot keep up with the cost of living.
“More consumers living paycheck to paycheck indicates that many are continuing to lose their financial stability,” Anuj Nayar, financial health officer at financial services company LendingClub, told CNBC.
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