The holiday shopping season is in full swing, but things really ramp up later this week with Black Friday, Small Business Saturday, and Cyber Monday.
While inflation dipped slightly from September to October, prices on just about everything are still high.
According to a recent survey by Bankrate.com, two out of five shoppers say inflation will change how they shop this year. The survey finds 40% will buy fewer items, some will go for cheaper brands, use credit cards to offset costs, make their own gifts, or buy secondhand items as presents.
Leslie Sarasin, CEO of The Food Industry Association, says families will also be changing the way they grocery shop for that big holiday meal.
"They're buying more store brands perhaps than they did previously," she said. "They're seeking out substitutions in ingredients for some of the recipes that they like to prepare."
According to the National Retail Federation, the average shopper plans on spending just under $1,000 on Christmas gifts. For many families, that is the same amount as their weekly paycheck.
