Odessa American in Odessa, Texas

inflation erodes buying power as costs rise in 1968

Americans report living costs surge and incomes lag. Households like Florence Mikkelsen in Palo Alto and Patricia Misuradze in Kirkland describe higher grocery and housing prices, rising mortgage and interest rates, and a shrinking spendable income. Experts note government bonds and mutual funds attract savers while municipalities struggle with financing amid inflation. Pensioners feel the squeeze as fixed Social Security incomes fail to keep pace.