The average American household will pay almost 2,000 and 1,000 U.S. dollars more for gasoline and food respectively in 2022, according to a recent research note by consulting firm Yardeni Research, reported by Fox News on Tuesday.
"That's 3,000 dollars less money that households have to spend on other consumer goods and services, which also are experiencing rapid price increases," Edward Yardeni, president of the firm, was quoted in the article as saying.
The increase has been a result of the average cost of gasoline hitting a new record high and the inflation that American families still face, the article said.
According to data released by the U.S. Commerce Department, personal consumption expenditures, the U.S. Federal Reserve's preferred inflation gauge, rose 6.1 percent annually in January, the fastest annual pace in four decades.
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