The average American is likely paying an extra $311 a month because of inflation, according to a recent Moody’s Analytics analysis. The financial squeeze stems from the rising cost of everyday goods, including cars, rent, food, gasoline, and health care.

AS INFLATION SOARS, ONE-THIRD OF AMERICANS ARE EXPERIENCING FINANCIAL STRESS: SURVEY

“There is an old saying, the cure for high prices is high prices,” Furman said. “That’s a little bit of a painful thing to deal with, but it is what elicits the additional supply,