00:00It's Benzinga, bringing Wall Street to Main Street
00:02Americans are increasingly worried about their financial outlook as expectations for inflation
00:06worsen, according to CNBC.
00:08The New York Federal Reserve's latest survey of consumer expectations found that more households
00:13said they were financially worse off than a year ago and expected their situation to
00:17deteriorate further in the coming year.
00:19Gas prices rose nearly 4 percent in August and more than 27 percent from a year earlier.
00:24The national average reached $4.37 per gallon Wednesday, up from about $3.12 a year ago,
00:31according to AAA.
00:33Navy Federal Credit Union chief economist Heather Long said income growth is not keeping pace
00:38with spending, leading some consumers to use savings or credit.
00:41Bank of America analysts said higher gas prices could weigh on discretionary spending and contribute
00:46to food inflation.
00:47For all things money, visit Benzinga.com.
