Mike DeDivitis and other American consumers report struggling to maintain their standard of living as inflation continues to rise.
Mike DeDivitis, a 71-year-old resident of New York, reports that the rising cost of living has forced him to tap into his retirement savings to cover basic expenses. His experience reflects a broader national trend where consumer prices have spiked more than 25% over the last five years. The inflation crisis, which began during the COVID-19 pandemic, has persisted through the second term of President Donald Trump. The administration's use of import tariffs and a prolonged war against Iran have contributed to the sustained price increases. Consumers across the country are adopting various strategies to cope with the economic pressure. While some are buying off-brand products and cooking at home to save money, others are struggling with high housing costs and rising utility bills. Many Americans expressed concern that their paychecks are not keeping pace with the cost of living, leading to a decrease in discretionary spending on vacations and dining out.