Nearly six in 10 Americans say high inflation is having a significant impact on their lives, while a majority think things will get worse six months from now, according to a poll.
In a YouGov/Economist poll released Wednesday, 59% of Americans report that inflation affects them “very much” and another 28% felt the impact “a little bit”. Only 5% of respondents said they were not affected at all.
% expect worse inflation six months from now, while another percentage predicts it will stay the same, and only 13 Percent optimistic it will drop. A majority (59 percent) agree that interest rates will be higher by then, compared to 7% predict interest rates will fall.
Again, only 10 percent of respondents said Gas prices will be lower in six months, while 59% think prices will increase, and
predict that they will remain the same percentage.
The Labor Department reported that the Consumer Price Index (CPI) rose 4.9% compared to last year, or “just under 5 %
– Month-on-month growth in March and the 5 percent forecast by economists,” as John Carney, economics editor at inew News, said in inew News Wednesday. Bart News writes in Business Digest. He noted that the data suggested the Fed would pause rate hikes next month, adding:
However, On a monthly basis, Inflation accelerated again , up 0.4% after a modest 0.1% in March . This checks again the April acceleration column on the recession scorecard we’ve been keeping for the past few weeks. It joins the April employment data and the S&P Global Purchasing Managers Index as an indicator that the economy may have regained some momentum as April’s green shoots broke through the ground.
YouGov also asked participants whether they thought the economy was growing or shrinking. A majority of 4o% think it is shrinking and only 13% think it is is shrinking and expanding. Just under a third said it remained “about the same,” and 11 percent were unsure.
In addition, only 20% of Americans describe the economy positively, with classified it as “Good” and 8% classified it as “Excellent”. Instead, the majority 52 said it was in “poor” status, and 23 percentages call it “fair”.
YouGov Sampling 1, 59 between May 6th and 9th For adults, the margin of error is plus or minus 2,.8 percentage points.
