Friday, 02 June 2023 07:36 GMT

High share of US customers accuse inflation for worsening living standards

(MENAFN) The share of customers accusing inflation for disrupting their living standards reach a record high, as shown in a review by a University of Michigan.

It also stated that almost one in two Americans, which is 49 percent, now accuse high inflation for their worsening level of comfort.

This percentage matches the record high hit in the Great Recession that happened between 2007 and 2009 because of the worldwide economic catastrophe in the aftermath of the full US housing bubble.

"Consumers remained in agreement over the deleterious effect of prices on their personal finances," Surveys of Consumers Director Joanne Hsu declared.

"These negative views endured in the face of the recent moderation in gas prices at the pump," Hsu also claimed.

Consumer inflation rose to a yearly 9.1 percent last month, still soaring around its four-decades high.


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