The percentage of Americans naming inflation or a high cost of living has hit a new high of 41%, up from 35% a year ago and 32% in 2022, according to recently conducted Gallup poll. Additionally, the cost of owning or renting a home also reached its highest level at 14%.
Poll participants also pointed to debt (8%), lack of money or low wages (7%), healthcare costs (7%) and gas prices/energy costs (6%) as financial issues. Since Gallup started conducting its annual Economy and Personal Finance Poll in 2005, healthcare costs and lack of money/low wages have consistently landed at the top of the list, while gas/energy prices have often done so when gas prices have gotten high.
Younger (under age 50) and low-income (less than $40,000 annually) were less likely to name inflation as an issue than older and/or middle- or higher-income Americans. Additionally, the answers differed between political parties, with 56% of Republicans naming it as the most pressing issue, compared with 39% of independents and 26% of Democrats.
