Sunday, August 03, 2008

Inflation Staggers Public, Economy Still Seen as Fixable

The public continues to be extremely downbeat about the national economy. Just 10% say the economy is in good shape, while 72% say the economy is either in a recession (54%) or a depression (18%). On a personal level, concerns about rising prices have surged. Beyond widespread anxiety about energy costs, a growing number of Americans say it is difficult for them to afford food.

The percentage of Americans who cite rising prices as the nation's most important economic problem has nearly doubled since February - from 24% to 45%. Nearly two-thirds (64%) now say their incomes are not keeping up with the rising cost of living, which also is up substantially from February (58%). The number saying it is difficult to afford food has followed a similar upward path; 38% say that now, compared with 27% five months ago. Source: Pew Research Center for People and the Press

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