Poll: 63% of Americans say they are falling behind the cost of living
NBC News poll also found that 58% of Americans disapprove of President Joe Biden’s handling of the economy.
Newly released polling data shows that the majority of Americans report they are falling behind the cost of living.
NBC News released the poll, which found that 58% of Americans disapprove of President Joe Biden’s handling of the economy.
Another 63% of surveyed voters say their income is falling behind the cost of living. That poll points to inflation, which has soared since Biden took office and been a political thorn in Democrats’ side.
The U.S. Bureau of Labor Statistics released inflation data last week showing that prices rose across a range of items in August, but the overall inflation rate was dampened by an unusual fall in gas prices from record highs in recent weeks.
Many items saw huge increases. Food prices, for instance, have shot up in the last year.
"The food at home index rose 13.5 percent over the last 12 months, the largest 12-month increase since the period ending March 1979," BLS said. "The index for other food at home rose 16.7 percent and the index for cereals and bakery products increased 16.4 percent over the year. The remaining major grocery store food groups posted increases ranging from 9.4 percent (fruits and vegetables) to 16.2 percent (dairy and related products)."
On top of that, a Morning Consult/Politico poll released in August found that only 24% of those surveyed expect the Inflation Reduction Act to actually reduce inflation while 34% said the legislation will make inflation worse.
The poll showed the gap between Republicans and Democrats narrowing heading into November, and Biden’s approval ticked upward, encouraging Democrats.
However, traditionally Republican issues like the economy, immigration and crime still surpassed other issues like abortion for voters in their decision-making. National Republican Congressional Committee spokesman Mike Berg said that is good news for Republicans.
"Republicans hold a massive advantage on the issues that will decide competitive elections this November," he said. "Democrats are only talking to their base."