Inflation HURTS: 95% Of Americans Say They Are Feeling The Heat

By Mark Gruber | Monday, 15 August 2022 07:25 PM
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Inflation HURTS: 95% Of Americans Say They Are Feeling The Heat

The overwhelming majority of Americans say they have been influenced by inflation, a poll from The Economist/YouGov found.

The poll asked, "How much have you felt the impact of this high inflation in your own life?"

The vast majority, 95 percent, announced it has affected them at least a little, yet of those, 56 percent announced inflation has impacted them "a lot."

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There is a consensus across the board, as 98 percent of Republicans, 95 percent of independents, and 94 percent of Democrats say inflation has affected them at least "a little."

The poll was taken August 7-9 among 1,500 United States adult citizens and coincides with the latest report from the Bureau of Labor Statistics showing consumer prices rising 8.5 percent over the last year, as Breitbart News detailed:

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"Economists had expected CPI to rise at an annual rate of 8.7 percent, down from 9.1 percent in June. They expected a month-over-month increase of 0.2 percent, a sharp decline from the 1.1 percent recorded in June."

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"Inflation has hit American families hard by raising prices for everyday necessities like food, gasoline, housing, transportation, and utilities. A sizable decline in the price of gasoline in July, which retreated from record highs hit the prior month, helped bring down the overall rate of inflation. The index for gasoline fell 7.1 percent in July. Compared with a year ago, the gas index is up 44 percent."

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Nevertheless, a closer look at the Consumer Price Index Summary shows prices even higher in some sectors. Food, overall, is up 10.9 percent, yet "food away from home," specifically, is up 13.1 percent.

Energy is up 32.9 percent over the last year, yet gasoline, specifically, is up 44 percent. Electricity, per the report, is up 15.2 percent.

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President Joe Biden tried to brag regarding the latest economic report, touting "zero inflation" in the month of July. Nonetheless, increasing prices continue to impact Americans, including at the grocery store:

"But inflation at the grocery store continues to rise. Prices were up 1.3 percent compared with a month earlier and 13.1 percent compared with a year ago."

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"The cost of rent also increased by 0.7 percent from the previous month; 6.3 percent from the previous year."

The latest report follows the Senate passage of the $700 billion Inflation Reduction Act, which focuses largely on expanding the IRS and enacting Green New Deal policies. Experts say it will not actually reduce inflation.

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