Tuesday, July 5, 2022
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Inflation top problem facing US: Pew Research

Amid swelling prices, most Americans see inflation as the biggest issue facing the country and far exceeding other concerns, according to a latest survey from Pew Research.

Nearly 70 per cent said inflation is “a very big problem” for the country, followed by nearly 55 per cent for healthcare affordability and violent crime, based on the poll of 5,074 US adults in April and May 2022, Xinhua news agency reported.

However, responses varied by political affiliation, with 84 per cent of Republicans and right-leaning independents saying inflation is the top issue. By contrast, 57 per cent of Democrats and left-leaning independents were most concerned about rising prices.

“The findings come as inflation hovers near a 40-year high, with an 8.3 per cent annual increase in April, slightly lower than the 8.5 per cent growth reported in March,” said CNBC on Monday in its report of the poll results.

Lingering high inflation has prompted aggressive action from the Federal Reserve, approving a half percentage point interest rate hike in May, the biggest increase in two decades, following a quarter-point boost in March. The central bank also plans to reduce bond holdings starting in June, according to the report.

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