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Poll: Middle Class Incomes Not Keeping Pace With Inflation, Fears of Recession

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(77WABC) — With inflation at 9.1% under the Biden administration, 75% of middle income American households say income is not keeping pace with inflation.

Even more — 77% — think the U.S. will be in a recession by year’s end. The recent survey was done by Primerica.

There’s also been a general uptick in financial worries in the last six months, with 39% of those surveyed expecting to be worse off financially in a year, up from 32% in March and 28% in December of 2021. The June survey of nearly 1,400 adults was done as part of Primerica’s quarterly check-in on the financial security of middle-income families.

Inflation has taken a toll on households, rising 9.1% in June from a year earlier, marking the fastest pace since 1981.

 

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