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Three-quarters of Americans have their say Household expenses have increased last yearDespite President Donald Trump’s claims Prices are falling in America
About 74 percent of Americans say they have regular periods household spending increased increased by at least $100 in the past year, according to a new survey published by Harris GuardianSome Americans even said they were paying $500 to $749 more each month.
Democrats, Republicans and independents alike reported rising costs. About 54 percent of Americans surveyed also said they believe the economy is in a recession.
The results come as other surveys have shown consumers are concerned about rising prices. For example, preliminary results from a University of Michigan survey of consumers showed that consumers’ five-year outlook on their household finances has fallen to the lowest point since 2011. nbc news,
While most Americans report rising prices, the Harris survey shows they are divided on who is to blame.
Republicans were more likely than Democrats and independents to blame rising prices on standard annual changes. due to inflationAccording to Harris Poll. But 55 percent of both Democrats and independents said so Government’s economic policies are to blame,
The Harris Poll also asked Americans to choose the greatest risks to the US economy from a list of options, including: inflation; Tariff; income inequality; Immigration; And higher interest rates. Inflation was the top risk among Republicans and independents, while tariffs were the top risk among Democrats.
When contacted for comment on the survey, White House spokesperson Kush Desai said that “real wages have increased since President Trump took office and inflation is moving toward a calm and steady 2.3 percent annual rate.”
“As the Trump administration’s aggressive supply-side agenda takes effect, Americans can expect more economic relief from Joe Biden’s inflation crisis — in addition to trillions of investments that are coming to the U.S. to build and rent,” Desai pointed out. Independent,
As Americans report rising prices, Trump has declared that prices have come down and inflation is over. In Comment From the Oval Office on Thursday, Trump claimed that “groceries are low and energy is low, power is very low.”
Daniel Dale, a senior journalist and fact-checker cnnaddressed Trump’s comments social mediaNoting that grocery prices are indeed rising and rising at “the fastest monthly rate in three years.” Electricity prices have also increased and were 6.2 percent higher in August compared to last year, he wrote.
In late September, Trump told the United Nations General Assembly that “grocery prices have gone down, mortgage rates have gone down, and inflation has been brought under control,” and last week, he wrote true social That “there is virtually no inflation.”
While inflation has fallen since its peak of 9 percent in 2022, it is still above the Federal Reserve’s target rate of 2 percent.
last month, The Bureau of Labor Statistics releases its August Consumer Price IndexWhich indicated that inflation increased by 0.4 percent in August and the annual inflation rate was kept at 2.9 percent. After initial delays, this is the first consumer price index report since most of Trump’s tariffs took full effect in August.
The September Consumer Price Index report is expected to be released later this month.