Bidenflation Stole Christmas: Inflation Causing Hardship During Holidays for Nearly Half of American Households

Inflation is inflicting financial pain on millions of U.S. households, with lower-income households the hardest hit, a Gallup survey released Thursday showed.

The survey found that 45 percent of American households report that recent price increases are causing their family some degree of financial hardship.

Prices have risen at the fastest pace in decades just as Americans are headed to shops and online to make Christmas season purchases. High home heating fuel prices are also hurting household finances as the nights turn colder in much of the U.S.

Ten percent of households say they are suffering “severe” hardship from inflation. Another 35 percent are suffering “moderate” hardship.

The burden of inflation is skewed toward lower-income households. Among households earning less than $40,o00, 42 percent say they are suffering moderate hardship and 28 percent say they are suffering severe hardship. That’s a total of 71 percent who say they are suffering from inflation.

Among households earning between $40,000 and $99,999, just eight percent reported severe hardship and 38 percent reported moderate hardship. Among higher-income households, the severe share is just two percent and the moderate share is 28 percent.

There’s some political divide when it comes to inflation. Republicans and independents were equally likely to say they are suffering from severe hardship, at 11 percent. Among Democrats, the severe share was eight percent. Moderate hardship was reported by 42 percent of Republicans, 38 percent of moderates, and just 28 percent of Democrats.

To put it differently, 63 percent of Democrats say they are suffering no hardship at all from inflation while just 51 percent of independents and 47 percent of Republicans say that.

Inflation is more of a drag for households without a college education. Thirteen percent of non-college households say they are suffering severe hardship and just 4 percent of college graduate households say that. Forty percent of non-college households say they have suffered moderate hardship, versus 26 percent of college grads.

The Gallup survey makes it clear that claims by some leftwing activists and journalists that inflation worries were being driven by the wealthy did not reflect the experiences of American households. President Biden himself claimed in July that no “serious” economist was concerned about inflation.

Continue: Breitbart.com