Almost 80 per cent of Americans say President Joe Biden’s economic policies are to blame for the inflation surge, according to a new poll conducted on Wednesday.
According to a poll by Beacon Research and Shaw & Company Research, about 70 per cent of Americans say the national economy is in dire straits, and 86 per cent of respondents expressed concern about inflation, Fox News reported. The poll was carried out between August 7 and 10, polling 1,002 randomly selected registered voters in the United States.
Of those polled, 86 per cent say that the COVID-19 pandemic is to blame for the rise in prices, while 79 per cent blame Biden’s economic policies directly.
The rising costs of groceries, amenities and gas prices are causing financial hardship for at least 70 per cent of people who earn less than $50,000 a year, according to the poll. Over 50 per cent of $100,000 earners say that the increase in prices has also caused them hardship.
“The degree to which lower-income households are feeling the squeeze on food and fuel is striking, if not surprising, and highlights the risk that inflation could push families on the brink over the financial edge,” said Chris Anderson, who conducted the poll.
The poll’s results come amid rising inflation in July, with the Labor Department’s Consumer Price Index going up by 5.4 per cent compared to the same period last year.
According to the Labor Department, consumer prices, which measures goods and services as well as energy and food costs, rose 0.5 per cent from the previous month. Independently, food prices went up by 0.7 per cent in July from the month before, and 3.4 per cent from a year ago.
Among the hardest hit was the cost of meat, which saw the price of frankfurters and pork cuts surge by 4.8 per cent and 4.4 per cent respectively, in a single month from June. Eggs have also increased in cost by 1.6 per cent during the same period.
The price of gasoline has seen the largest year-on-year increase, going up by almost 42 percent from 2020.