I have had to change my holiday plans extensively this year.

I have a week off between Christmas and New Year's, but I can't afford to travel because

everything is so much more expensive.

And because of the higher costs at the grocery store and everywhere else I go, I had to cut

backs substantially on what I spend every normally in a normal year.

It's going to be a tough year.

Americans are spending less money this holiday season.

Retail numbers fell 0.6% in November.

That's the weakest retail performance in nearly a year and a sharp turnaround from the

1.3 increase in retail spending the US saw in October.

Last week, the Federal Reserve raised interest rates for a seventh time this year in an attempt

to fight inflation, but that hasn't helped keep prices low.

Inflation first spiked 18 months ago and since then Americans have been spending consistently,

but it seems like that's beginning to change.

After the break, we discuss more about inflation and the economy and what it all means for

you this holiday season.

I'm Jen White.

You're listening to the 1A Podcast where we get to the heart of the story.

We'll be back with more in just a moment.

Let's get into it.

Joining us to talk about inflation and the economy is Michelle Singletary.

She's a personal financial columnist at the Washington Post.

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