An increasingly large majority of Americans say that inflation continues to strain their household budgets, a revelation that comes even as President Joe Biden and senior White House officials insist that the nation is “making progress” as inflation has decreased in recent months.
Some 61% of respondents to an April 2023 survey released by Gallup this week concurred that “recent price increases” have caused “financial hardship” for themselves and their households. The share of respondents answering in the affirmative continued to rise from 56% in August 2022, 49% in January 2022, and 45% in November 2021.
Roughly 15% of respondents in April 2023 additionally said that the hardship from elevated inflation has been “severe” and affects their ability to maintain a consistent standard of living. “As has been the case for the past two years, lower-income Americans report greater hardship from inflation than those in higher income brackets,” Gallup noted.
Another survey…
