A Pew Research Center poll revealed that nearly all Americans are concerned about the rise in the cost of food and consumer goods due to inflation in a worrying sign for Democrats ahead of the midterm election.
Conducted last week, the poll showed that 73 percent are “very” concerned and 22 percent are “somewhat” concerned about the rise in prices, while a combined 93 percent are “very” or “somewhat” concerned by the rise in gasoline. Another 87 percent were similarly concerned about the rise in housing costs, and 70 percent were concerned about “how the stock market is doing,” the Pew poll shows.
“The survey finds that inflation remains the dominant economic concern for Americans,” Pew pollsters wrote. “In fact, the three top concerns, among seven items included, relate to prices—for food and consumer goods (73 percent are very concerned about this), gasoline and energy (69 percent), and the cost of housing (60 percent).”
Receipt posted on Reddit by a member of WSS.
Walmart receipt from almost 3 years ago. Milk is up almost 80%. Toothpaste up 43%. Isopropyl alcohol up 63% to name a few.
— Wall Street Silver (@WallStreetSilv) October 26, 2022
If inflation is 10.1%, why are some food items up by 40%?
Inflation is pushing up prices all over the country – but why are they not all rising at the same rate?
Inflation is a means of measuring the overall amount prices are increasing (or decreasing) across the economy.
Inflation hit 10.1% in September, having briefly dropped to 9.9% during August, a sign of the cost of living crisis which is tightening its grip on the UK.
But, as the Office for National Statistics just found, it has been disproportionately affecting lower-priced groceries, which have increased 17% on average in the 12 months to September.
This is more than the average rate of food and drink inflation, measured by the ONS at 14.5%.
Even this is significantly more than the everyday inflation rate.