Americans most concerned about inflation and cost of living: Survey

• A Marquette University Law School national survey found inflation and the cost of living are the most important issues for Americans.
• Nearly 80% of survey participants reported increased grocery costs in the last six months, leading 69% to expect further inflation.
• President Trump's approval ratings for handling the economy, inflation, foreign policy, and tariffs have declined, while border security efforts show higher support.
• A coalition of 25 Democratic-led states sued the Trump administration over tariffs, which research indicates burden U.S. consumers and importers by 96%.
• Economic concerns are driving voter choices, with Democrats showing greater enthusiasm and a slight edge in congressional election preferences (46% vs. 44%).

Inflation has improved, but affordability has not.

A national survey released Wednesday by the Marquette University Law School in Milwaukee reveals that inflation and the escalating cost of living stand as the paramount concern for the American public. Following closely, the national economy ranks as the second most pressing issue, according to the poll's findings. These top concerns are directly linked to significant shifts in various economic indicators observed since January, underscoring a persistent dissatisfaction with financial circumstances across the United States.

Nearly 80% of all participants in the Marquette Law School inflation survey US reported an increase in grocery costs over the past six months. This tangible impact on household budgets has fueled a pessimistic outlook on future price trends, with 69% of respondents anticipating further inflation over the next year, and an additional 19% expecting costs to remain at their current elevated levels. The survey, conducted from July 22-29, gathered responses from 1,076 adults nationwide, including 886 registered voters.

The widespread economic discontent has translated into a notable decline in public approval for President Donald Trump's management of both the economy and inflation. Furthermore, the president's foreign policy and the tariffs he has implemented also show downward trends in public support, even as his administration's efforts in border security and immigration garner higher levels of approval.

The ongoing U.S. war in Iran has significantly contributed to economic volatility, particularly with dramatic increases in gasoline prices in April that remained unstable. While prices saw a brief decline in early July, recent surges have occurred as the conflict in the Middle East intensified. Consequently, the survey indicates deep public unhappiness with the war, with the percentage of people identifying it as their top concern falling from 24% in April to 10% in July. Despite this decrease, public sentiment towards the conflict has not improved; respondents in every poll conducted by the law school since April have become increasingly less optimistic about the U.S. achieving its objectives in the Iran war.

The economic landscape is further complicated by trade policies. On Monday, a coalition comprising 25 Democratic-led states initiated legal action against the Trump administration concerning the president's extensive tariffs imposed on goods from 60 U.S. trading partners. Research from the Kiel Institute for the World Economy indicates that while these tariffs were intended to bolster the American economy, U.S. importers and consumers ultimately bear 96% of the financial burden, thereby exacerbating price increases.

Beyond consumer goods, public skepticism regarding the expenses associated with data centers remains high, a consistent finding in Marquette Law School Poll national surveys since January. In July, more than 70% of individuals surveyed expressed the belief that the costs of data centers outweigh their benefits. These findings align with other recent surveys, such as those from the Pew Research Center, which similarly highlight economic concerns as a primary factor influencing voter decisions for congressional candidates.

The survey results strongly suggest that economic conditions will be a decisive factor for voters in the upcoming November general elections, where numerous congressional seats and top-statewide office positions are contested. In the poll, 46% of respondents indicated they would vote for the Democratic candidate in congressional elections, compared to 44% for the Republican candidate.

Democrats also reported a greater level of enthusiasm for the elections than their Republican or independent counterparts. This heightened enthusiasm is expected to boost voter turnout among Democrats, potentially giving them an advantage in the impending vote. However, the enthusiasm gap, much like the certainty of voting, has shown variability across different polls conducted throughout the year. Senior U.S. economist Yelena Shulyatyeva of the Conference Board’s July economic forecast report summarized the situation, stating, "Inflation has improved, but affordability has not," noting that consumers continue to face significantly higher living costs than before the pandemic due to elevated prices, including high housing expenses, rapidly rising homeowner insurance premiums, restrictive financing costs, and a permanent increase in the cost of many essential goods and services due to cumulative inflation.

Source: Original reporting via Courthouse News Service