WASHINGTON (Pakistan Point News / Sputnik - 28th July, 2021) A 59 percent majority of US registered voters hold the Biden administration economic policies responsible for raising inflation, which surged 5.4 percent in June compared with a year earlier, a new Morning Consult and Politico poll revealed on Wednesday.
"Nearly 3 in 5 voters said that the Biden administration's policies are to blame for the 13-year high in inflation, including 39 percent who said the policies are 'very responsible' for the milestone," a press release explaining the poll said.
The tally reflected expectations of future price increases in travel, used cars and home improvement, which have grown significantly from the beginning of the year, the release added.
At 82 percent, Republicans were the driving force behind elevated inflation fears, but a large share of Democrats (41 percent) also held the Biden administration's policies responsible for the much higher inflation levels, the release added.
In June, US consumer prices rose 5.4 percent from June 2019 while the Consumer Price Index increased 0.9 percent from May on a seasonally adjusted basis, a monthly rate that if maintained for an entire year would result in 10.8 percent annual inflation before compounding. Both measures show prices rising at the fastest pace since 2008, the Bureau of Labor Statistics said.
The Biden administration and the Federal Reserve have said for months that recent inflation is temporary, an expected byproduct of the US economy reopening after more than a year.
