Americans spent $709 more on everyday goods in July than they did at that point in 2021, according to a new analysis from Moody's Analytics.

“To be sure, the high inflation of the past 2+ years has done lots of economic damage. Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago,”