Inflation haunts consumers ahead of Halloween and holiday season

LOINCOLN, Neb. (KLKN) – After the pandemic, American families are ready to celebrate the holidays, starting with Halloween.  

A National Retail Federation study found that participation in Halloween-related activities is expected to reach the highest level in three years. 

But as inflation bedevils families’ plans, a financial advisor from Stonebridge Insurance and Wealth Management in Lincoln said this year’s celebrations might be different.   

“I’d expect more kids to be in cardboard costumes or homemade costumes,” Eli Mardock said. “I think that in general, everyone is looking at cutting back on spending.” 

As prices rise, many American families might be taking extreme steps. 

“Recent data that came out showing Americans have spent roughly a third of overall savings,” Mardock said. 

He said families should be budget-conscious. He shared some tips to make the best not only of Halloween, but also of the rest of the holiday season. 

Spreading out the cost of holiday shopping and taking advantage of any deals are some of his suggestions.

He also said consumers should avoid using credit cards since inflation is leading to higher interest rates. 

We will learn more on inflation and its effects next Wednesday when the U.S. Bureau of Labor Statistics releases the inflation rate for September. 

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