Consumers have been battered by inflation since 2021. While things now seem to appear in a better position than they appeared in mid-2022, the inflation reports of January contain some surprises. In January a hike in the GST from December was seen by 0.5% which is a big leap in a span of a month which clearly explains why people have been struggling with debt on credit cards and are also victims of the struggle with money.
Unfortunately, the reports have brought the news of another hike in the inflation rates which none is happy to lend their ears to. However, we can guess the possibility of another opportunity for the general public to receive a stimulus check.
Unlikely To Receive Any Stimulus Check in Near-Term
It is not difficult for consumers to witness inflation at high levels with stimulus checks. It is obvious that people struggle when there is a rise in living costs. The purpose of giving out stimulus checks is to help Americans individually, to help them manage inflation which does not show the probability of seizing soon.
Looking at the situation from a historic point of view, dealing with inflation has never come up with stimulus checks as an aid. Stimulus checks have always come to the rescue generally during high rates of unemployment and a decline in consumer spending. However, this is not the exact situation we are dealing with today.
On the contrary, we can see the rates of national jobless have reached a 54-year low, while the economy in January has an addition to not less than a million jobs. Appreciatively, these facts have catered to help us understand the sudden increase in the inflation rates last month. Since people had been employed with handsome salaries which enabled the crowd to spend more leading to a hike in the GST rates.