The overwhelming majority of Americans say they have been affected by inflation, according to a poll by The Economist/YouGov found.
The survey asked: “To what extent have you felt the impact of this high inflation in your own life? »
The vast majority, 95%, said it had affected them at least a little, but of these, 56% said inflation had affected them “a lot”.
There’s consensus across the board, with 98% of Republicans, 95% of Independents and 94% of Democrats saying inflation has affected them at least “somewhat”.
The survey was taken August 7-9 among 1,500 adult U.S. citizens and coincides with the latest Bureau of Labor Statistics report showing consumer prices rose 8.5% over the past year, according to Breitbart News detailed:
Economists had expected the CPI to rise at an annual rate of 8.7%, from 9.1% in June. They expected a monthly increase of 0.2%, a sharp drop from the 1.1% recorded in June.
Inflation has hit American families hard by raising the prices of basic necessities like food, gasoline, housing, transportation and utilities. A significant drop in the price of gasoline in July, which fell from the records reached the previous month, contributed to lowering the overall rate of inflation. The gasoline index fell 7.1% in July. Compared to a year ago, the gas index is up 44%.
However, a closer look at the consumer price index summary shows even higher prices in certain sectors. Food as a whole was up 10.9%, but ‘out-of-home food’ in particular was up 13.1%.
Energy was up 32.9% from a year ago, but gasoline, in particular, was up 44%. Electricity, according to the report, is up 15.2%.
President Joe Biden tent to brag about the latest economic report, touting “zero inflation” in July. However, rising prices continue to impact Americans, including at the grocery store:
But inflation at the grocery store keep on going rise. Prices were up 1.3% from the previous month and 13.1% from a year ago.
The cost of rent also increased by 0.7% compared to the previous month; 6.3% compared to the previous year.
The latest report follows the Senate’s passage of the $700 billion Inflation Cut Act, which largely focuses on expanding the IRS and enacting Green New policies. Deal. Experts say it won’t actually reduce inflation.