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concentrated corporate power has played in creating the conditions for price gouging,Red-hot inflation hurting millions of Americans financially, poll says
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Red-hot inflation hurting millions of Americans financially, poll says
The hottest inflation in nearly four decades is inflicting financial pain on millions of U.S. households as prices for everyday necessities like food and gasoline continue to surge, according to a new survey.www.foxbusiness.com
The hottest inflation in nearly four decades is inflicting financial pain on millions of U.S. households as prices for everyday necessities like food and gasoline continue to surge, according to a new Gallup survey.
The price spike has caused some degree of financial hardship for about 49% of Americans, according to the poll of 811 people conducted between Jan. 3 and Jan. 16. Roughly 9% of respondents said that inflation is causing "severe" hardship that has made it difficult to maintain their standard of living, while 40% described it as "moderate" financial pain. That's an uptick from November, when 45% of Americans said inflation was hurting their wallets.
The effect is more pronounced among lower-income families: Two-thirds of those making less than $40,000 a year say they experienced hardship compared with 56% of middle-income families and 32% of those earning more than $100,000 a year. What's more, 20% of Americans who are considered lower-income said the hardship they are experiencing is severe and hindering their ability to maintain their current standard of living.
Inflation jumped at its fastest pace in nearly 40 years last month, a 7% increase from the year-ago period, the Labor Department said recently.
The tariffs on China have finally reached the whole economy. We pay the tariffs, its just took a few years to ripple through the economy.