Over 60% of Americans have experienced financial hardships as a result of high inflationary levels, a Gallup poll published on Thursday stated
WASHINGTON (Pakistan Point News / Sputnik - 18th May, 2023) Over 60% of Americans have experienced financial hardships as a result of high inflationary levels, a Gallup poll published on Thursday stated.
The survey asked individuals if recent price hikes had caused them and their households any sort of financial hardships, and if yes, whether it had severe or moderate effects on their living standards.
Sixty-one percent of Americans said they and their households had faced financial hardships because of recent price hikes, a 6% increase since the last poll in November 2022.
Gallup also noted that Thursday's results are the highest since they began collecting data on the issue in November 2021, when 45% of the surveyed had reported being affected by high inflation.
Among those who answered positively to the question, 15% said that higher prices had severely affected their ability to maintain current standards of living, and 46% qualified the financial impacts as moderate.
Although inflation rates have attained their lowest levels in the past two years, the poll's results may suggest that high prices during 2021-2022 have weakened consumers' pockets.
Additionally, over three-quarters of Americans earning under $40.000 reported moderate difficulties related to inflation, of whom 29% consider being severely affected.
The poll noted that cooling inflation is currently insufficient to cause relief in Americans' pockets and that significant changes in prices would be required to regain the public's financial confidence.
Gallup conducted the poll from April 3-17 on a web survey.
