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Soaring Prices Causing Nearly Half of Americans to Cut Back on Driving

Sixty percent said the rising prices have caused them to 'spend less in general'

 on 23rd July 2022 @ 9.00pm
the outlook is also grim  as 55 percent said they are not confident that their financial situation will be better one year from now © press
The outlook is also grim, as 55 percent said they are not confident that their financial situation will be better one year from now

Almost half of Americans have been forced to cut back on driving, with even a one-third saying they are going grocery shopping less often, an Echelon Insights survey released this week found.

Three-quarters of likely voters expressing the belief that a candidate should focus on economic issues over social issues, the survey found.

Meanwhile, 58 percent are at least somewhat less secure in their financial situation than they were one year ago.

31 percent said they are “much less” secure.

The outlook is also grim, as 55 percent said they are not confident that their financial situation will be better one year from now.

Sixty percent said the rising prices have caused them to “spend less in general."

52 percent said the rise in prices has changed their habits, as they eat at restaurants “less often.”

Nearly half, 47 percent, said they “drive less often."

46 percent said they “go shopping less often.”

The national price of gas stood at $4.413 as of Friday.

46 percent said they have had to spend less on entertainment, while over one-third, 38 percent, said they “go grocery shopping less often."

Thirty-four percent said they have had to put less money in savings due to rising prices.

Over a quarter said rising prices have caused them to cancel or change vacation plans.

The survey was taken July 15-18 2022, among 1,022 likely voters and has a +/- 3.4 percent margin of error.

It comes as inflation hit another 41-year high in June, rising to an annual rate of 9.1 percent in June:

The inflation data released by the Department of Labor, however, show widespread inflation pushing up prices on things that have little to do with Covid-related challenges or the attack on Ukraine.

Many of the expenses faced by American families when it comes to housing and home upkeep are soaring.

Shelter costs rose by 0.6 percent in June over the prior month, the same pace of inflation that hit consumers in May.

The rent index jumped 0.8 percent over the month, the largest monthly increase since April 1986. Over the course of the year, the rent index is up 5.8 percent, the most since 1991.

Basic household goods have risen even higher. Furniture, for instance, is up 13.1 percent, and groceries are up 10.4 percent, as Breitbart News detailed.

The results spell trouble for Democrats, as they control the majority in both chambers and the White House as the midterm elections draw closer.

President Biden has blamed everyone but himself for inflation, telling reporters in May that he believes Democrat policies “help, not hurt” Americans.

[READ MORE] BlackRock Loses $1.7 Trillion in Six Months

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tags: Joe Biden | economy
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