At the national level, the middle class is typically defined as households that earn between two-thirds and double the household median income.
Based on 2023 figures, that means those with an annual income between $53,740 and $161,220.
According to the Bureau of Labor Statistics, the annual rate of inflation was 2.4% in September, as measured by the consumer price index.
But that hasn't necessarily led to a dramatic decline in prices; in many categories, consumers have only seen costs rising more slowly.
"Financially, things have been a struggle," said Kyle Connolly, a mother of three making a middle-class income in Pensacola, Florida.
Persons:
Kyle Connolly
Organizations:
Bureau of Labor Statistics, Living Coalition
Locations:
U.S, Pensacola , Florida