Inflation Is Americans’ Top Financial Concern, New Survey Shows | Global News Avenue

Americans cannot shake the fear of inflation.

Two-thirds of U.S. adults said inflation was their biggest financial problem, with more than half saying inflation will increase this year, according to a survey released by Northwest Mutual on Monday.

More than half of the survey said inflation is rising faster than their household income: more than 80% said they have experienced higher grocery fees over the past three months; seven in 10 utility costs have increased; and 60% of air pumps have sticker shock. The survey was conducted in mid-January and was conducted by more than 4,600 American adults.

Another new reading from the Fed in New York shows Americans expecting February Inflation is getting worse In the next 12 months.

“Economists often talk about the ‘sticky’ of inflation, which means it takes time to reverse a wide range of economic cycles,” said John Roberts, co-chief field officer of Northwest. “Our results show that inflation is also sticky on a personal level – it’s still the mind of people and often reminds people in daily life.”

The next massive read on inflation, the February Consumer Price Index report is scheduled to be released Wednesday morning. (This is What to expect. January starts from January.