46 % of people struggle to maintain their current financial status, according to a Monmouth poll released on Wednesday.
The Bureau of Labor Statistics released its report showing that inflation decreased by one tenth of a percentage point to 3.3 % in the month of May, just weeks before the poll was conducted between June 6 and June 10.
In May, food prices were flat, and compared to last year, food costs are up by 1 %. But, since President Joe Biden was elected, food prices have increased by more than 20 %.
The Monmouth poll found that 24 % of people are most concerned about inflation despite the inflation rate cooling for the second consecutive quarter.
” Even with a declining prices rate, prices continue to be much higher than they were four times ago”, Patrick Murray, chairman of the Monmouth University Polling Institute, told the Hill. That’s the measurement that has truly mattered to many Americans over the past two decades. Although financial concerns may not be the main driving force for all voters, they form the foundation of this year’s vote.
Polling conducted between 2022 and 2023 found that between 37 % and 44 % of people said they were” struggling to remain where they are financially”. In polls conducted from 2017 to 2021, that number was lower at between 20 % and 29 %.
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Among voters who are struggling, 60 % support former President Donald Trump, and 25 % support Biden.
Biden and his administration have traveled throughout the nation to show how the senator has helped lower costs and improve people ‘ economic conditions prior to the discussion on June 27. Vice President Kamala Harris has been traveling since April to promote the monetary expansion under Biden.
