(The Center Square) – The majority of Americans say inflation is causing them financial hardship, according to a new poll.
While the Biden administration heralded a pause in the rise of inflation for the month of July, a new Gallup poll indicates that Americans are feeling the pain more now than at the beginning of this year.
“A majority of Americans, 56%, now say price increases are causing financial hardship for their household, up from 49% in January and 45% in November,” Gallup said. “The latest reading includes 12% who describe the hardship as severe and 44% as moderate.”
The survey was conducted Aug. 1-22 after that pause in inflation. More federal data will be released this month showing whether inflation took off again in August or remained steady.
Inflation is reportedly hitting poorer Americans hardest.
“Lower-income Americans are more likely than others to be experiencing severe hardship – 26% of those whose annual household income is less than $48,000 say prices are causing severe hardship for their families,” Gallup said. “That compares with 12% of middle-income Americans and 4% of upper-income Americans. Lower-income Americans are about as likely now as last fall to say they are experiencing either severe or moderate hardship – 74%, compared with 70% in November.”
The survey found middle income Americans are feeling the pain as well.
“Middle-income (63%) and upper-income (40%) Americans remain significantly less likely than lower-income Americans to say they are experiencing hardship,” Gallup said. “However, sharply more middle- and upper-income Americans are struggling now than were last November. The increase has been greater among middle-income Americans – up 17 percentage points than among upper-income Americans – up 12 points.”
Americans are cutting back on spending, traveling less, and trying to up their income to deal with the higher prices.
“The most common action, mentioned by 24% of those experiencing hardship, is to reduce spending, including buying less in general or buying only essential items,” Gallup said. “Another 17% say they are traveling less or canceling vacations, while the same percentage indicate they are driving less or trying to use less gas. Other common strategies for dealing with higher prices are buying cheaper goods or generic brands of products (12%), eating out less (10%), buying fewer groceries or growing their own food (10%), staying home (8%), and cutting down on entertainment expenses (8%).
“Seven percent say they have tried to increase their income by working more hours, finding a second job or looking for a new job. Three percent say they are delaying medical procedures or appointments, and another 3% are delaying home improvement or maintenance projects,” Gallup added.
Well as one who raises cattle, the price of beef in the store is through the roof with chicken just as bad. The in town Pilgims CHicken processing palnt who used to pay $12,50/hour is now offering $22.50/ hr with a $2000 new hire bonus, and still can’t keep the processing plant at full hired capacity. I am getting no more for beef at auction than I did last year so the middle men and processors who can’t find people to process the meat are charging what they can to overcome the cost in hiring what Joe and the Democrat enablers are paying them to stay home on social welfare benefits. Thanks to the doubling or more in the price of Diesel to plant harvest and bring hay to market, a $40 roll of hay to feed my beef now costs $110 which is not even break even, when a 6 week drought hit Texas and you have to use your winter stored hay to feed them in the summer the Democrats will have succeeded in driving the family beef producers into growing turnips. The solution is simple and within our grasp. Fire all the Democrat environMENTAL candidates this fall, and hire those who will drill baby drill America back to energy independence, and quit paying people more to stay home in government vote buying benefits than go back to work creating American wealth. I suspect this coming election, dispite what the liberal media will have you believe, that the Democrats are about to realize that it IS the economy Stupid, having shown us just how stupid they really are and how stupid they think WE THE PEOPLE are, but are about to find out we are NOT!
ALL intentionally done, by the dems..
WHAT MIDDLE CLASS?
the government destroyed that years ago.
Agreed. THe leftist commucrats, have done their worst, to DESTROY society, so its only a RICH THEM, and POOR US left.
Notice the only people who support the madness of a stupid ********** senile old geezer are filthy rich dummycrats or their on welfare. People that actually work for a living and are not rich are the ones the dummycrats want to use an F15 against.
Which is why i keep saying they want to eliminate the middle class..