Over half of U.S. households say inflation is causing them hardship, a figure that has barely changed throughout the past several months, a Gallup poll shows.
According to the poll, which was conducted among more than 1,800 American adults in November, 55 percent of Americans said the rising prices have created financial problems for their households.
Its results were published on Dec. 6, a month after the Labor Department announced that prices across the country had shot up 7.7 percent compared to the previous year. The department put the increase down to higher costs of shelter, food, and energy.
The November figure had “essentially [remained] unchanged” since August, Gallup said.
“The fact that Americans’ self-reports of financial hardship are leveling off rather than declining is likely a reflection of just how much prices have risen over the past year, and how much further inflation needs to subside before most Americans no longer feel burdened by it,” Jeffrey M. Jones, senior editor at Gallup, said in a post for the polling firm’s website.
The figure was, however, notably higher than the 45 percent of Americans who said they were in the same boat a year ago, it added.
The survey also found that 77 percent of lower-income respondents were financially suffering from price increases, compared to 60 percent of middle-income adults, and 42 percent of upper-income adults.
It identified lower-income families as households, most of whose money goes towards rent, and have a hard time paying their bills.
Of the lower-income respondents, 28 percent said they were experiencing “severe” financial hardship, which Gallup described as affecting one’s “ability to maintain your current standard of living.” (PressTV.ir)