It’s hard enough for employees to save for retirement, without historic inflation stretching their wallets thin.
The continued economic strain caused by COVID has been exacerbated by the war in Ukraine and other economic stressors, causing prices to creep up. In March, the Consumer Price Index increased 8.5% from the previous year, according to the most recent data from the Bureau of Labor Statistics. The fluctuating prices on food, gas, real estate and other goods are hitting Americans hard — both in their day-to-day spending habits and in their goals for the future.
