Inflation Worries Grow

US President Joe Biden speaks during a meeting with President of Afghanistan Ashraf Ghani at the White House in Washington, DC, on June 25, 2021. (Photo by Nicholas Kamm / AFP) (Photo by NICHOLAS KAMM/AFP via Getty Images)
NICHOLAS KAMM/AFP via Getty Images

The American public is increasingly worried about inflation.

Twenty-six percent of adults say that inflation is a bigger problem than unemployment, a poll by The Economist and YouGov shows. Twenty-one percent say unemployment is the bigger problem. Forty-two percent said both are equally as important.

The public also rates price level as the most important economic indicator. Forty-two percent say the prices of goods and services they buy are the most important economic indicator, followed by 25 percent who said unemployment and jobs reports.  Ten percent said their personal finances are the most important and six percent said the stock market is the most important.

This is a big change. In January, just 24 percent told pollsters that the most important economic indicator was prices. Forty-two percent said unemployment and jobs reports.

The government will release its Consumer Price Index for June on Tuesday. Economists expect the pace of monthly price increases to tick down from 0.6 percent in May to 0.5 percent. CPI has come in hotter than expected for three months.

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