Most Americans are afraid of inflation

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You can see it at the grocery store, at the gas station, and on your heating bill (although, thankfully, not in a liquor store): Prices are rising. Consumer prices have risen 6.2% since last October, the biggest annual increase since 1990. report published on Wednesday from the Bureau of Labor Statistics. Prices are rising in almost every category, including gas, food and housing. largely as a result supply chain disruptions, labor shortages and the lingering effects of the pandemic.

In spite of mixture or coating the official message “don’t panic” prevails in the media. Federal Reserve System predicts this period that price increases are “transient” and there are signs that the price increase starts to slow down. But in the meantime, Americans are worried about inflation and, according to recent polls, blame the Biden administration most of all. That’s why Biden switched gears this weekmoving from celebrating the passage of his bipartisan infrastructure bill to addressing inflation concerns.

If you haven’t noticed the price increase, you’re in the minority. Seventy-six percent of American adults said gas prices rose “a lot” and 65 percent said food prices rose “a lot.” Economist / YouGov poll spent Nov. 6-9. One in four Americans said they spent more on groceries in October than in September. according to Morning Consult survey spent Oct. from 29 to Nov. 3. And Scott Rasmussen national poll spent Oct. 11-13 found that 77 percent of registered voters “recently experienced a sharp increase in the cost of goods they would like to buy.”

Americans also expect prices to continue rising, especially ahead of the holiday season. AT another Morning Consult surveywhich was held on Oct. from 29 to Nov. 1, most Americans expected prices for consumer goods, food, travel, toys and jewelry to be higher this year than in previous years and planned to make up for this increase by hunting for deals. As the holidays approach, consumers are most worried about the cost of meat, groceries and dairy products. first Morning Consult survey. 48% of Americans were “very concerned” about the cost of meat, 37% about groceries, and 33% about dairy. Many consumers (46%) said they “frequently” compare prices to cut down on groceries.

Americans are unhappy with these price increases. AT Kos / Civiqs Daily Poll spent Oct. from 30 to Nov. 2, 78 percent of registered voters said they were unhappy with gas prices (only 5 percent said they were happy), and 75 percent said they were unhappy with the prices of consumer goods such as food, clothing and household items. This dissatisfaction with consumer goods prices was the highest among Republicans at 92 percent, compared with 57 percent for Democrats and 78 percent for independents.

Americans feel the rise in prices in their wallets. This Economist/YouGov poll found that 56 percent of Americans said they had at least a hard time affording gas, with 55 percent saying the same about food and 48 percent saying the same about housing costs. Fox News Poll spent Oct. Charts 16-19 showed inflation worries were higher than in the past four months, with 87 percent of registered voters saying they were “very” or “extremely” concerned about inflation and rising prices.

Price increases may influence the political views of voters economy as a whole because their effects are felt so quickly, contributing to Biden’s negative rating. “There is a psychology of inflation that is different from everything else, and it tends to affect how people look at the economy because they experience it every day, whether it’s at the grocery store, at the gas station, or when shopping for household goods. ” said John Anzalone. democratic sociologist, told the Los Angeles Times.

The poll shows how voters view inflation as a political issue. Many registered voters (40 percent) said the Biden administration’s policies were “very responsible” for inflation, and a majority (62 percent) said the administration’s policies were at least “somewhat responsible.” according to Politico/Morning Consult survey spent Oct. 16-18. AT Harvard/Harris Poll spent Oct. On December 27-28, 56 percent of registered voters said they were unsure about the Biden administration’s ability to contain inflation, and 53 percent said the same about the Federal Reserve’s ability. A majority (56 percent) said Congress passed a $1.5 trillion to $2 trillion social spending bill (e.g., the one they are currently trying to get through) will lead to more inflation.

Although the public reaction does not match the forecasts of experts, their concerns should not be dismissed. Some economists suggest that fears about inflation, if left unchecked, could worsen the situation. creating a self-fulfilling prophecy in which workers, fearful of rising prices, demand higher wages, the costs of which employers then cover by raising prices, resulting in higher inflation. it what happened in the 1970s, and this led to nearly double-digit inflation rates. Regardless of how temporary the Fed thinks this price hike will be, Americans are worried right now.

Other Poll Bites

  • With the 2022 midterms just under a year away, support from Biden, whose approval ratings are low, may not be an attractive option for all candidates. Most likely voters (51 percent) said they were less likely to vote for a presidentially endorsed candidate. Rasmussen reports poll.
  • Americans not satisfied with how Biden has handled what they say is the country’s biggest problem: the economy. A majority of Americans (36 percent) said the economy is the most important issue in the US. recent CNN/SSRS poll. And the majority (58 percent) said that Biden did not pay enough attention to the most important problems of the country.
  • There have been cases of COVID-19 stopped declining in the US, but many Americans are ready to go back to pre-COVID life. Per recent Axios/Ipsos surveya small majority of Americans (55 percent) thought going back to their pre-COVID lives now posed little or no risk to their health, and 50 percent of Americans said they now feel less risk of contracting COVID-19. compared to April 2020
  • O 900,000 children aged 5 to 11 received their first dose Pfizer’s COVID-19 vaccines just one week after the vaccine was approved for this age group. Before the vaccine was approved, in October Survey of the Kaiser Family Foundation found that only 27 percent of parents with children aged 5 to 11 said they would vaccinate their children “immediately” as soon as they become eligible for vaccination. This hesitation was largely driven by the long-term effects of the vaccine in children (76 percent of parents surveyed) and that their child could have serious side effects from the vaccine (71 percent).
  • On Monday, US lifts entry ban for vaccinated visitors from 33 countries including Mexico, Canada and the UK. But some international travelers don’t feel comfortable traveling to the US. morning poll found that 60 percent of Canadian adults do not feel comfortable planning a trip anywhere in the US, and 41 percent of Mexican adults feel uncomfortable. In Europe, 45 percent of adults in the UK, 42 percent in Germany and 36 percent in France did not want to plan a trip to the US.

Biden endorsement

According to FiveThirtyEight presidential approval tracker42.5 percent of Americans approve of Biden’s performance as president, while 51.6 percent disapprove (-9.1 net approval rating). At the moment last week, 42.7% approved and 50.5% disapproved (net approval rating -7.8 points). A month ago, Biden had a 44.6% approval rating and a 49.2% disapproval rating (a net approval rating of -4.6 points).

General Bulletin

In our average survey general congressional ballotDemocrats currently lead Republicans by 1.3 percentage points (42.5 percent versus 41.2 percent, respectively). A week ago, Democrats outperformed Republicans by 2.3 percentage points (43.4 percent versus 41.2 percent, respectively). At the same time last month, voters preferred Democrats to Republicans by 2.9 points (44.4 percent versus 41.6 percent).

Can you guess what Americans think of the Democrats’ budget?