Fewer Americans value personal finance positively as prices rise: survey

Fewer Americans value personal finance positively as prices rise: survey

Fewer Americans are positively assessing their personal financial situation as prices continue to rise amid record US inflation, according to a new Gallup poll.

The new poll released on Thursday found that 46% of respondents said their current financial situation was either “excellent” or “good”, down from 57% in 2021.

To the same question, 38% of respondents said that their financial situation was “only fair”, while 16% of those surveyed said that their financial situation was currently “poor”.

Thirty-seven percent of respondents said that their financial situation was getting better, while 48% of those surveyed said that their current financial situation was getting worse.

Gallup noted that the current survey figures are similar to those of April 2020 in the early stages of the COVID-19 pandemic.

In another survey, 67% of respondents said they had enough money to live comfortably, which is down 4% from last year.

Thirty-two percent of respondents cited inflation as the most important financial problem in the country, with ten percent of those surveyed saying energy costs or the price of gas and oil were the main issue.

In terms of inflation, 37% of respondents in high-income households consider inflation to be a major concern for the country, while 32% of respondents in middle-income households and 27% of respondents in low-income households agree .

Seventy percent of low-income respondents said the recent rise in gasoline prices has caused financial hardship in their households, 51 percent of middle-income respondents and 35 percent of high-income respondents had they said.

The findings of the most recent Gallup poll were conducted on April 1-19. No sample size or margin of error specified.

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