financial hardship Archives - The Virginia Star

Americans’ Inflation Pain Hits a New High

May 21, 2023 The Center Square

Regardless of a slowdown in the rise of inflation, Americans report that higher prices are causing financial hardship, a new poll indicates.

Gallup released the poll data Thursday, which found that 61% of those surveyed say price hikes have caused financial hardship, up from 49% in January of last year. That 61% figure is a high point for Americans since Gallup began tracking the data in 2021, when inflation was growing faster.

Inflation Slows, but Americans Still Feel It

December 7, 2022December 6, 2022 The Center Square

Inflation has slowed from its rapid growth in the past two years, but surveys show Americans are still feeling the pain from the jump in prices.

Gallup released new polling data Tuesday showing that 55% of those surveyed say inflation is causing financial hardship for their household. Notably, 13% of Americans say inflation has caused their families “severe hardship.”

Number of Americans Citing ‘Hardship’ from Inflation Rises

September 11, 2022September 10, 2022 The Center Square

The majority of Americans say inflation is causing them financial hardship, according to a new poll.

While the Biden administration heralded a pause in the rise of inflation for the month of July, a new Gallup poll indicates that Americans are feeling the pain more now than at the beginning of this year.

Almost Half of All Americans Say Inflation Caused Them Financial Hardship

December 5, 2021 Virginia Star Staff

Person walking down the aisles in Walmart

Almost half of Americans said soaring prices created some form of financial hardship for their households, while 10% reported that they are experiencing “severe hardship,” according to a Gallup poll released Thursday.

As Americans enter a busy holiday season, 45% of consumers reported hardship at the hands of the recent surge in inflation, according to a Gallup poll. Roughly 35% of respondents reported “moderate” financial hardship in their homes and just 54% reported “no hardship” at all.

Lower-income households suffered the most, according to the pole, with over 70% of respondents earning less than $40,000 a year saying price hikes have negatively impacted their families.

Roughly 40 Percent of Americans Say They Recently Suffered Financial Difficulties, Study Shows

October 19, 2021October 18, 2021 Virginia Star Staff

Soldiers assigned the Ohio National Guard’s HHC 1-148th Infantry Regiment – 37th Infantry Brigade Combat Team and the Ohio Military Reserve, give the thumbs-up for troopers assigned to the Ohio State Highway Patrol, to send more vehicles through the line at a drive through food distribution event at the Toledo Northwestern Ohio Food Bank, May 9, 2020. The food bank teamed up with the Ohio National Guard and the Highway Patrol to conduct the first-ever drive through event at the food bank. More than 700 Ohio National Guard and Ohio Military Reserve members were activated to provide humanitarian missions in support of Operation Steady Resolve COVID-19 relief efforts, continuing The Ohio National Guard’s long history of supporting humanitarian efforts throughout Ohio and the nation. To date, the Ohio National Guard has assisted in the distribution of more than 9.9 million pounds of food and pantry items to Ohioans in need. (Air National Guard photo by Senior Master Sgt. Beth Holliker)

Over 40% of U.S. households said they experienced severe financial hardship during the COVID-19 pandemic, citing difficulties paying bills, credit cards and draining their savings, according to a Harvard University report.

The survey conducted by the Harvard T.H.Chan School of Health, the Robert Wood Johnson Foundation, and the National Public Radio asked roughly 3,600 participants between July and August about problems they faced during the pandemic and how it affected their lives in recent months. Respondents were asked about financial, healthcare, education and personal safety concerns.

Roughly 30% of adults interviewed said they used up all or most of their savings during the pandemic, while 10% reported they had no savings before the pandemic began, according to the report. About one in five households had difficulties paying credit cards, loans, and other debts as well as utilities.