A plurality of Americans expect inflation to worsen over the course of the next six months, a survey from YouGov/The Economist found.
This week, the Labor Department revealed that U.S. inflation jumped 8.5 percent over the course of the last year — the highest increase since 1981. Americans have been feeling the change at the grocery store and gas pump, as many say increased prices have forced them to change their behaviors, even cutting back on groceries in order to pay for gas in President Biden’s America. And according to the latest YouGov/The Economist survey, many expect it to only get worse.
A majority believe inflation will be either worse or the same six months from now. Forty-three percent, specifically, think there will be an even higher rate of inflation, while 24 percent say it will be the same.
Confidence in inflation decreasing over the next six months is low, as just 14 percent said there will be a lower rate of inflation at that point. Eighteen percent remain unsure.
The American public does not believe inflation will prove transitory. https://t.co/oEAYHy0W4I
— Breitbart News (@BreitbartNews) October 12, 2021
Opinions are scattered on party lines, as 60 percent of Republicans predict inflation will be worse six months down the road — a sentiment shared by 49 percent of independents and 26 percent Democrats. However, about a quarter from each group — 26 percent of Democrats, 24 percent of Republicans, and 24 percent of independents — believe inflation will be the same at that point. Democrats are the most optimistic of all groups, as 25 percent say there will be a lower rate of inflation, compared to six percent of Republicans and ten percent of independents who say the same.
Florida Gov. Ron DeSantis (R), a routine critic of the Biden administration’s failed policies, added some perspective to the Labor Department’s figures this week, making it clear that ramifications are even worse than the 8.5 percent figure, because “all the things that really matter are going up significantly more than that.”
“I mean look gasoline up about 50 percent over the last year plus used cars up 35 percent, to be able to get a used car” he said, reemphasizing “staples that people need to just live a basic life are going up much higher than 8.5 percent.”
The survey was taken April 9 – 12, 2022, among 1,500 U.S. citizens.