According to new research, more than three quarters of Americans believe inflation is negatively affecting them as they approach the holidays. More than half also think President Biden should be held responsible for high prices.
Yahoo News/YouGov released Tuesday’s survey and found that 77% of Americans believe inflation has affected their lives in the past. Likewise, 61% of Americans feel the same regarding the current supply chain crisis and the consequent shortage of goods.
The poll also found that more than half of Americans (51 percent) have expressed worry they “won’t be able to afford what they need during the holidays due to inflation,” while 45 percent fear they “won’t be able to get what they need” because of the supply chain disruption.
The disruptive effects of inflation cross partisan lines, as 69 percent of Democrats acknowledge that high prices have affected them “some” or “a great deal.” Nine out of 10 Republicans say the same, as do 79 percent of independents.
When asked whom they blame for the high prices caused by inflation, 80 percent of Americans pin at least some of the blame on COVID-19, while 57 percent say Biden bears “some” or “a great deal” of responsibility.
But when asked who deserves “the most” blame, 35 percent of respondents say Biden while 30 percent say the pandemic.
Nearly all Republicans (90 percent) and 65 percent of independents place at least “some” of the blame on the president for inflation, as do 28 percent of Democrats.
Overall, the poll put Biden’s job approval rating at 43 percent, slightly higher than some other surveys that have the president as low as 36 percent.
As Americans hit the road for Thanksgiving, they will bet met by the highest prices they’ve paid for gas in seven years. This year, those hosting Thanksgiving will be paying 14 percent more for their turkey dinner.
In an effort to try to alleviate the pain at the pump, the Biden administration announced on Tuesday that it would release 50 million barrels of oil from the Strategic Petroleum Reserve, but the president admitted that won’t have an immediate effect.
“It will take time but before long you should see the price of gas drop where you fill up your tank,” Biden said Tuesday at his last major event before the holiday.
The Yahoo/YouGov poll surveyed 1,696 adults between Nov. 17 and 19 and has a margin of error of plus-or-minus 2.6 percentage points.