Fewer Americans say inflation is top concern facing family, shows poll

New Delhi: Fewer Americans now say that inflation and rising gas prices are the top issues facing their families compared to last summer, when inflation and fuel prices surged, shows a  a poll conducted from 16-20 March.

Roughly one-quarter of US adults picked inflation as the top concern facing their family at the moment. At 24 per cent, that figure is down 9 percentage points from last summer, when 33 per cent named inflation as the top issue, reported The Hill, citing Monmouth University poll.

Just 1 per cent of respondents said rising gas prices are the biggest issue for their families, down from 15 per cent last summer, the poll showed.

Twelve per cent picked “the economy” more broadly as their top concern, up from 9 per cent last summer — and 12 per cent said it was everyday bills and groceries, up from 6 per cent last summer.

The Federal Reserve has been hiking interest rates in an effort to control inflation, raising concerns about the banking system and the possibility of a recession.

US inflation eased in March

US inflation eased in March to its lowest level in nearly two years, but underlying price pressures likely keep the door open for the Federal Reserve to consider another interest-rate increase at its May meeting.

The consumer-price index, a closely watched inflation gauge that measures what consumers pay for goods and services, rose 5 per cent last month from a year earlier, down from February’s 6 per cent increase and the smallest gain since May 2021, the Labor Department said on Wednesday.

Consumers saw lower prices last month for groceries, gasoline, medical care and utilities and higher prices for shelter, airline fares and vehicle insurance, the department said.

A Gallup poll released earlier this month also found that the economy and inflation lead the list of Americans’ biggest concerns — and that they’re also increasingly concerned about drug use and the affordability of health care.

The poll, released on 6 April, showed at least 60 per cent of respondents said they have “a great deal” of concern about inflation and the economy. The percentage increased by 2 points for both categories from a poll taken last year.

The Monmouth University poll surveyed 806 US adults and had a margin of error of 5.8 percentage points.

With inputs from agencies

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