Regardless of a slowdown in the rise of inflation, Americans report that higher prices are causing financial hardship, a new poll indicates.
Gallup released the poll data Thursday, which found that 61% of those surveyed say price hikes have caused financial hardship, up from 49% in January of last year. That 61% figure is a high point for Americans since Gallup began tracking the data in 2021, when inflation was growing faster.
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Inflation has slowed from its rapid growth in the past two years, but surveys show Americans are still feeling the pain from the jump in prices.
Gallup released new polling data Tuesday showing that 55% of those surveyed say inflation is causing financial hardship for their household. Notably, 13% of Americans say inflation has caused their families “severe hardship.”
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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.
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