A survey was conducted between Dec. 15-17, with 1,762 respondents. 70.8 percent said that inflation was affecting their budgeting. A little more than 29 percent disagreed. The poll asked if the current rate of inflation is affecting your family budget. 50.3 percent of Democrats replied “yes” to that question. Nearly 90% of Republicans agreed, and 77% of independents.
Broken down by race, 73.9% of white respondents, 68.1% of black respondents, and 68.1% of Hispanics responded “yes.” Gender responses were virtually identical, with 74.5% of men and 74.6% of women saying that inflation is a serious problem.
Eighty-two percent of those with less than a Bachelor’s Degree and 70.7 percent for those with a higher degree also stated that inflation has impacted their family’s budget. All age groups reported that inflation had impacted their finances. The highest “yes” rate was among those aged 35-49 at 81.2 percent. The second highest was 78.8 percent for the 50- to 64-year olds, followed by 72.9 percent for the over-65 group and 59 percent for the 18-34 age group.
The results were almost identical by region. 71% of the Northeast, 79% of the West, 72.5% of the Midwest, and 76.89% of the South responded “yes” to the question about inflation affecting their family’s budget. The poll concluded that inflation was having a broad impact on the country, regardless of who you are and where you live.
Recent polls also found that 69 percent disapprove of the way Biden has handled inflation. These poll results are coming as U.S. businesses have increased their expectations for inflation in the next decade to 3.2 percent. At 26.5 percent, wholesale and supply chain inflation is also at their highest levels since 1974.