With the holidays around the corner, Americans will go shopping – but inflation and rising prices have taken their toll.

According to recent data, consumers in the US have been sharing their spending plans, charitable donations and holiday events during this holiday season.

An estimate from the University of Michigan shows that household sentiment over the past six months is comparable to late 2008 and early 2009, when the country experienced economic disaster and higher unemployment. In addition, at this time Inflation climbed into double digits.

A Census Bureau survey of households found that 41% of Americans said they had trouble paying for essential household expenses, compared with 29% a year ago.

According to Deloitte’s 37th annual holiday shopping season opinion poll, Americans plan to buy an average of nine gifts this year, compared to 16 last year. In addition, they have said they plan to spend less time shopping than they did last year.

In early September, a Bankrate.com survey found that 45% of people making less than $50,000 in annual household income said they did Inflation changes their shopping habitswhile 41% of shoppers making between $50,000 and $79,999 agree.

“Christmas shopping will look different this year, with inflation around 40-year highs,” he said Ted RossmanBankrate.com Senior Industry Analyst.

Also read: Why gold isn’t rising despite high inflation, Fed rate hikes

A RedFlagDeals.com to learn shows that 43% of consumers plan to spend less on Christmas shopping from November than in September, and three in five consumers plan to spend less on Christmas shopping in 2022 than in 2021.

Consumer budgets for the holiday season are shrinking, with 75% planning to spend $1,000 or less this holiday season, the report said.

The number of people looking to spend $500 is up 24% since September as people tighten their wallets.

The National Retail Federation mentioned this holiday …