(TheLastPatriotNews.com) – According to a new poll, close to two-thirds of Americans say record high inflation during Biden’s time in office has negatively impacted their lives, and they hold Biden responsible.
The survey by pro-left pollsters YouGov and The Economist released on Wednesday shows 59% of Americans report they have been affected by inflation “A lot.”
Another 36% of the respondents say inflation has impacted them “A little,” while 5% report they haven’t felt its impact.
At the same time, almost half of Americans – 48% – believe that ongoing inflation – also known as “Bidenflation” – will have deteriorated further in six months, Breitbart News reports.
Conversely, a smaller share of Americans think inflation will stay the same or improve over the next six months – 28% believe it will not change, and 13% think consumer prices will decline during that period.
At the same time, 52% deem it likely that interest rates will have grown in six months, while 7% expect them to go down.
According to the poll, 54% think gas prices will be higher in six months, 23% forecast they will remain the same, and 10% expect them to decline.
The survey found that 40% of the respondents perceive that the US economy is shrinking, while 20% said they view it as growing. About one-third of those polled consider it “about the same,” while 11% are unsure.
A plurality of Americans – 40% – say they see the economy as being in a “poor condition,” 27% described it as “fair,” 22% think its condition is “good,” and 8% deem it “excellent.”
The YouGov and Economist poll was conducted between May 6 and May 9 among 1,500 respondents and had a margin of error of 2.8 percentage points.
The poll results come just as the US Labor Department announced that in April, inflation, i.e., the Consumer Price Index, went up by 4.9% annually, a slight decline compared with the 5% figure in March.
Economists had also forecast a 5% annual inflation growth for last month.
However, inflation’s growth “re-accelerated” on a monthly basis, Breitbart News points out.
It grew by 0.4% in April compared with March, after a 0.1% growth the previous month.
“That puts another check in the April acceleration column on the recession scorecard we’ve been keeping for the past several weeks,” commented Breitbart’s Economics Editor John Carney
“It sits alongside the April jobs numbers and the S&P Global purchasing manager indexes as an indicator that the economy may have regained some steam as the green shoots of April pushed up through the soil,” he added.
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