Lower-income households are most likely to have experienced financial hardship due to price increases. Seventy-one percent of those living in households making less than $40,000 a year say that recent price hikes have caused their family financial hardship. That compares with 47% of those in middle-income households and 29% in upper-income households.
Moreover, 28% of lower-income Americans describe the hardship they are experiencing as severe and affecting their ability to maintain their current standard of living.
While the majority of U.S. adults without a college degree (54%) describe price increases as causing financial hardship for themselves or their family, 30% of those with a college degree say they have experienced the same.
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Related: Inflation Spreads Across America, Accommodated by Fed’s Policies.
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