At the inflation peak last June, the typical family spent an additional $502 per month compared with the year before.
From rent and groceries to utilities, families are paying a lot more every month as they try to keep up with inflation.
The good news is that the cost-of-living shock appears to be easing and paychecks are starting to catch up. Other items that are costing families more per month include utilities , health care , entertainment and alcoholic beverages , according to Moody's. Some of the pain from inflation is being mitigated by a significant shift in recent months: Wages are finally growing at a faster pace than inflation.
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