(The Center Square) – Americans are feeling the pain of high prices, according to new federal data.
The Federal Reserve Board on Tuesday released its Survey of Household Economics and Decisionmaking, which showed Americans report that they are doing worse than before the COVID-19 pandemic and they cite inflation as a top concern.
“Despite the moderating pace of inflation, many adults continued to indicate that higher prices were a challenge in managing their finances,” the Federal Reserve said.
The report found that 31% of Americans say they are doing worse off financially than they were 12 months ago, down from the high point of 35% last year, but still much higher than recent years, which ranged from 17-24% during the Trump administration.
“Sixty-five percent of adults said that changes in the prices they paid compared with the prior year had made their financial situation worse, including 19% who said price changes had made their financial situation much worse,” the report said. “In contrast, 4% of adults said that price changes compared with last year had made their financial situation better, while 31% said price changes had little to no effect on their financial situation.”
The data comes alongside recent figures from the U.S. Bureau of Labor Statistics that show inflation continues to rise.
The latest Consumer Price Index and the Producer Price Index, two key markers of inflation, have remained elevated this year, often rising faster than expected.
Overall, prices have risen about 20% since President Joe Biden took office.
The federal reserve report shows that those higher prices are making an impact on the lives of everyday Americans.
Only 72% said they have emergency savings, the lowest level since 2016.
And the fools still support this treasonous, corrupt, demented, obedient, sock puppet president Joe Barack OBiden.
The puppet president Joe Barack OBiden may be incompetent, self-serving, corrupt, demented and an Obama’s puppet, but Biden’s masters are not stupid. They are just counting on the American people to be very stupid.
The Democrat Party is not stupid; Its treachery is very brilliant. The problem we are facing is that the U.S. citizens ARE stupid. This enemy from within is doing EXACTLY what they have set out to do and people are too foolish to see that they are being lead to slaughter.
High Prices are just one thing THE PEOPLE are feeling the pain of. No peace, no justice, no sanctuary for the law abiding since Joe Biden and his puppeteers put on their “Punch and Judy” show upon the defenseless public three years ago, that has left many a black eye and empty gas tank empty cupboard and empty wallet for the average American citizen. Remove Joe Biden and the extremist Democrat party anti-American secular socialists from power and all the pain will be removed along with them. Put your hand in the fire and you soon pull it out. Get thrown into the fire by Joe and his crew and life as you knew it soon ends. They have removed so many illegal ways to eradicate them from power, we are all feeling like desperate homeowners whose water has been shut off by incompetent governance, trying to put out the incoming forest fire where only the ability left to resist is to pee on it. What child’s father who asks for a fish would only give him a stone? What political party whose people they were assigned to protect, that ask for the beef, and get only the flatulence?,,,,,enter the Democrats.
Name me one thing dem policies have EVER made better.
Dem policies have made the Elite Dems more money and power. They are not concerned about anything else.
Wow, you folks are real geniuses and I’ll bet getting paid very well for finding and stating the obvious. Now how about you find a solution to the problem or guess what we don’t need you just wasting taxpayer money on your salaries, surveys and then doing nothing to solve the problem! IMO
every body but the freeloaders among us who get welfare,food stamps ,wic,gpubment housing!
It should be clear to anyone who is paying attention that this administration’s policies have created a financial headache for most Americans. My fear is too many people are oblivious to facts, figures, and the reality of why we are in this situation and instead buy the false rhetoric of Democrats. Uniformed and apathetic Americans is like suicide bombers for our Republic. Their unwillingness to acknowledge that a socialist storm is brewing will not only mean their own demise but the destruction of every freedom loving American.
“In contrast, 4% of adults said that price changes compared with last year had made their financial situation better, while 31% said price changes had little to no effect on their financial situation.”
Getting close to that 37% that Mitt Romney said would never budge.