Inflation in the United States is presently at 7.5 percent, up 0.6 percent from December to January, and its highest since February 1982. In December, half of the American households reported that Inflation was giving them problems, and help wasn’t on the way.
Inflation generates financial difficulty for 45 percent of households in the United States. Those with the lowest incomes are the worst hurt. The spike in costs has caused “serious difficulty” for ten percent of respondents. An upper-income household, according to Gallup, earns more than $100,000 per year.
Moreover, Inflation appears to be a bipartisan problem, with little disagreement across party lines on how to deal with it. According to a YouGov poll, 8% of Democrats suffer from “serious difficulty” due to Inflation, compared to 11% of Republicans and independents. Eighty percent of Americans blame COVID-19 for at least part of the blame, while 57 percent blame President Biden for “some” or “a great deal” of the blame.
According to a YouGov survey, only 18 percent of Americans believe President Joe Biden is doing enough to alleviate rising costs. Rising Inflation has surpassed COVID as the most pressing concern confronting America for the first time. It is why Biden is frantically looking for someone to blame for the high pricing. As Inflation eats more into the pockets, the rest of people will continue to face a decreasing quality of life.
Furthermore, Inflation was 0.6 percent in December and January, the same as the previous month and more than experts had predicted. From October to November, prices increased by 0.7 percent, and from September to October, they increased by 0.9 percent. There are few indicators that Inflation will slow down anytime soon, and Americans are finding it more difficult to purchase basic needs such as food, petrol, rent, and child care.
“It’s a tremendous asset more inflation,” Biden said when asked if “inflation is a political liability in the elections,” before saying under his breath, “What a foolish son of a b*tch.”