Inflation may have moderated, and the economy is showing signs of healthy growth, but the public remains deeply concerned about both, according to the latest I&I/TIPP poll.
The poll found that fully 80% of those surveyed by I&I/TIPP say they are either “very” (45%) or “somewhat” (35%) concerned about inflation. Just 17% say they are not concerned. That’s despite the fact that inflation has averaged just 2.6% this year – which is significantly lower than any year under the Biden administration – and came in lower than expected in July.
And while the economy grew a healthy 3% in the second quarter – which was better than expected – only 38% say the economy is improving, and more than three quarters (76%) say they are concerned about an economic slowdown or recession in the next 12 months.
The latest I&I/TIPP poll asked a series of questions to gauge the public’s views about whether the economy is in a recession, if it’s improving, concerns about inflation, whether their wages are keeping pace with prices, and the top three economic issues facing the economy. The national online I&I/TIPP Poll was taken by 1,362 voters from July 30-Aug. 1, and has a margin of error of is +/-2.7 percentage points.
The results show that most Americans remain highly troubled about the cost of living and are concerned about the near-term trajectory of the economy.
Concerns about inflation, for example, cross all ideological and demographic boundaries. While 90% of Democrats say they are concerned about inflation over the next 12 months, so are 71% of Republicans and 79% of independents. In fact, concern about inflation topped 70% in every one of the dozen demographic categories the I&I/TIPP Poll tracks.
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Author: Ruth King
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