79% expect inflation to increase; nearly half experiencing financial hardship as a result

New polling from Gallup matches American Majority Project research findings that inflation is a top concern of Americans today.

Monday saw President Biden caught on the hot mic swearing in response to a question on inflation being a liability in the upcoming midterms. He sarcastically acknowledged the issue by commenting “no, that’s a great asset. More inflation”.

New research from Gallup reinforces our findings at the American Majority Project that inflation is a top concern of Americans today and will be a major campaign issue this fall.

Their new poll asked Americans whether they thought inflation would increase, decrease, or remain the same over the next six months. 79% of those surveyed believed that it will either go up a lot/a little. This is the highest number ever registered for this question by Gallup. Similarly, 49% responded that recent price increases had inflicted financial hardship upon their household. This number substantially increases to 66% for households with less than $40,000 of annual income.  This contrasts with the 38% who thought the top priority of election reform should be making it easier to vote (the goal of the Democratic bill).

Inflation was also pegged as the third most important problem facing America at 8%, behind general issues with government (23%) and the coronavirus pandemic (20%). Further, economic confidence is still low among Americans, with 37% describing economic conditions as poor, and 40% as fair. Additionally, 67% believed the economy was getting worse rather than improving.