The share of Americans who rate inflation as the top issue facing the country is at the highest in nearly 40 years, according to a Gallup poll released Tuesday.
About one in five Americans, or 17%, surveyed March 1-18 cited inflation as the nation’s most important problem. That’s up from 10% in February, and compares with 4% who pointed to fuel prices in particular.
U.S. consumer prices are rising at the fastest pace in four decades, outpacing wage gains and fanned further by Russia’s war in Ukraine. Gas prices are near record highs -- well over $4 a gallon nationwide -- especially straining lower-income families.
Among those polled -- a little over 1,000 U.S. adults -- 22% say the government is the top problem outside of the economy, while 9% cited the war in Ukraine. The share citing the coronavirus fell to the lowest level since the pandemic began.
Similar to a University of Michigan survey -- which showed U.S. consumer sentiment remained at a decade low in March -- inflation concerns diverge sharply from a political perspective. Nearly 80% of Republicans are worried about inflation, more than double the proportion of Democrats, according to Gallup. SOURCE: Bloomberg READ MORE...
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