ST. LOUIS–In a divided America, there is one issue Americans increasingly agree one: 78% say the high rate of inflation has become a crisis, according to a new survey from Clever Real Estate.
As CUTodayinfo has reported, inflation reached 9.1% in June — the highest mark since 1981 — before settling at 8.2% in October.
In response, 92% of Americans say they've cut costs in 2022.
No matter what (or whom) they blame for inflation, consumers remain deeply pessimistic about the issue, according to the new Clever Real Estate poll of 1,000 Americans. In fact, two-in-five Americans (40%) believe the current rate of inflation is here to stay permanently.
Americans are so worried about inflation that they drastically overestimate its scope, according to Clever. It noted that nearly two in three Americans (64%) wrongly say inflation is the highest it's ever been. Americans are also 6x as likely to overestimate the inflation rate as they are to underestimate it, according to the survey.
Key Takeaways
Among the key takeaways:
- Americans say inflation is the most concerning issue facing the country, ahead of health care, crime/gun violence, immigration, and abortion
- 62% expect the cost of everyday goods to be higher in 2023. Just 12% think costs will be lower.
- 93% of Americans have cut costs in 2022, but only 37% have seen their household income increase.
- 53%) say the economy is in a recession, and only 18% say the economy isn't headed toward one
- 64% wrongly believe inflation is at an all-time high
- 46% claim to know the current inflation rate, but only 25% actually do.
‘Questionable Beliefs’
According to Clever, Americans “hold some questionable beliefs about how to fix inflation. About 19% say the U.S. should decrease interest rates, and 10% say the government should print more money — both of which could actually worsen.”
The full report can be found here.
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