The vast majority of Americans say surging grocery and household goods prices are causing them financial hardship and nearly 80 percent blame the Biden administration’s economic policies, a new poll says.
About 70 percent of Americans say the national economy is currently in bad shape and the majority — 86 percent — are concerned about inflation, according to the Fox News poll released on Wednesday.
Of those polled, 86 percent blame the COVID-19 pandemic for increasing prices and 79 percent blame the Biden administration’s economic policies.
The surging cost of grocery and gas is causing financial hardship for 70 percent of people with an income of less than $50,000, the polls says.
Over 50 percent of those who earn $100,000 say price increases have also been tough on them.
“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 pollster Chris Anderson.
The poll, conducted by Beacon Research and Shaw & Company Research, was carried out between August 7-10. It polled 1,002 randomly-selected registered voters across the country.
It comes as inflation continued to surge in July with the Labor Department’s Consumer Price Index jumping 5.4 percent compared to last year.
Consumer prices, which measures a basket of goods and services as well as energy and food costs, rose 0.5 percent from the month prior, the Labor Department said.
Food prices were up 0.7 percent in July from the prior month and 3.4 percent from a year ago, according to the data.
The cost of meat surged with frankfurters and various cuts of pork up 4.8 percent and 4.4 percent, respectively, from June. The price of eggs also increased 1.6 percent from the month prior.
Gasoline rose 2.4 percent from May and is now up almost 42 percent from a year ago.