Inflation impacts Americans' ability to pay bills

As inflation hit a new four-decade high of 9.1% in June, many Americans have had to make tough decisions about what gets paid and what has to wait.

Video transcript

- Inflation is forcing a lot of Americans to have to choose between paying for their health care or their utility bills. In fact, 20 million Americans are currently behind on their bills with a combined $16 billion in unpaid utility bills nationwide.

I spoke to one registered nurse who said her elderly patients, who are mostly on a fixed income, are having to choose which bills to pay and which ones to leave behind. It's gotten so bad that some of them are even splitting pills just to get by or forgoing meals all together. For a lot of people, they're hoping the government steps in. And for some experts, they're saying they're just delaying the inevitable.