According to a new poll by Yahoo News/YouGov, a vast majority of Americans say inflation is affecting their lives.
As reported by Yahoo News on Tuesday, “More than three-quarters of Americans (77 percent) say inflation is affecting their lives as the holiday season begins, according to a new Yahoo News/YouGov poll — and a clear majority (57 percent) blame President Biden.”
The outlet further reported, in part:
In addition to the nearly 8 in 10 Americans who now say inflation is affecting them personally (37 percent “a great deal”; 40 percent “some”), more than 6 in 10 (61 percent) say the same about “shortages of goods and services” (17 percent “a great deal”; 44 percent “some”).
A majority of Americans (51 percent) also say they’re worried they “won’t be able to afford what they need during the holidays due to inflation,” while 45 percent say they’re worried they “won’t be able to get what they need” due to shortages.
It added, “Asked how much each of the following are to blame for the current inflation, far more Americans say disruptions caused by the COVID-19 pandemic (49 percent ‘a great deal’; 31 percent ‘some’) than say Biden (39 percent “a great deal”; 18 percent ‘some’)…But when asked who deserves ‘the most’ blame, more Americans say Biden (35 percent) than the pandemic (30 percent).”
When it comes to the partisan nature of inflation, the outlet noted:
Yet inflation worries aren’t merely partisan. Nearly 7 in 10 Democrats (69 percent) say inflation affects their lives at least “some” — not all that many less than the number of independents (79 percent) and Republicans (90 percent) who say the same. A quarter of Democrats (25 percent) and more than a third of independents (38 percent) say inflation affects them a “great deal.” Likewise, Democrats are nearly as worried as Republicans about inflation (46 percent vs. 60 percent) and shortages (41 percent vs. 50 percent) affecting their holiday purchases.
And while nearly all Republicans (90 percent) and two-thirds of independents (65 percent) assign Biden at least some blame for inflation, more than 1 in 4 Democrats (28 percent) do as well.
Inflation has continued to impact Americans and many appear to be concerned about it as the holiday season gets closer. As Americans typically plan to spend more money over the holidays, this will likely be a year when their dollar doesn’t go as far as they expected.
As reported by The Daily Wire, brands are even starting to feel the impact and respond to it.
“Next year, General Mills will raise prices on hundreds of products,” The Daily Wire reported on Wednesday.
“The inflation rate for consumers reached 6.2% in the United States during the month of October, and food companies such as General Mills are passing their higher input costs on to consumers,” it added.
CNN Business reported:
General Mills (GIS) notified retail customers that it’s raising prices in mid-January on hundreds of items across dozens of brands. They include Annie’s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charm’s, Wheaties, Reese’s Puffs, Trix and more, according to letters General Mills sent to at least one major regional wholesale supplier last week.
For some items, prices will go up by around 20% beginning next year.
The wholesaler shared General Mills’ letters with CNN Business on the condition of anonymity to protect the company’s relationship with its suppliers. A leader at the company said it plans to push along all of the increases to its grocery and convenience store customers. He expects they will then pass them down to shoppers.