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Title: Inflation Causing Hardship For 45% Of U.S. Households;
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URL Source: https://www.zerohedge.com/economics ... americans-most-affected-gallup
Published: Dec 2, 2021
Author: Tyler Durden
Post Date: 2021-12-02 16:31:59 by Horse
Keywords: None
Views: 44
Lower-Income Americans Most Affected: Gallup By Mohamed Younis of Gallup, As the peak of holiday shopping approaches and winter temperatures drive up heating costs across the U.S., 45% of American households report that recent price increases are causing their family some degree of financial hardship. Ten percent describe it as severe hardship affecting their stanLower-Income, Less Educated Americans Most Affected Lower-income households are most likely to have experienced financial hardship due to price increases. Seventy-one percent of those living in households making less than $40,000 a year say that recent price hikes have caused their family financial hardship. That compares with 47% of those in middle-income households and 29% in upper-income households. Moreover, 28% of lower-income Americans describe the hardship they are experiencing as severe and affecting their ability to maintain their current standard of living, while another 35% say the hardship is moderate. These results are from Gallup's Nov. 3-16 probability-based web panel survey. While the majority of U.S. adults without a college degree (54%) describe price increases as causing financial hardship for themselves or their family, 30% of those with a college degree say they have experienced the same. There are modest differences in inflation-related hardship along partisan lines, with Democrats (37%) less likely than Republicans (53%) or independents (49%) to say they have experienced it. However, similar percentages of Democrats (8%), Republicans (11%) and independents (11%) say they are facing severe financial hardship because of higher prices. Bottom Line As Americans sail into peak holiday shopping season and winter temperatures bring bigger heating bills to much of the country, nearly half of U.S. adults already report that price increases are causing them financial hardship. For most, the problem is not a crisis -- but lower-income households are feeling the impact more than others, with nearly three in 10 saying the hardship is severe enough that it is affecting their current standard of living. Rising prices are expected to persist, meaning more Americans are likely to report hardship and those most vulnerable are likely to see things get worse before they improve. Poster Comment: Shadow Stats inflation rate is nearly 15%. Many food processors are raising prices 20% in January. That Social Security pay raise is an illusion. They are raising Medicare premiums more than the cost of living increase. If they had banned GMO and Glyphosate, the increase in Medicare cost for Alzheimer's and other diseases would have been avoided 
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