Fifty-seven percent of Americans are worried that inflation is causing 'some serious money issues,” according to a new Maru public opinion poll.
The recent survey also showed 14% are feeling a sense of "panic," that inflation is causing "drastic lifestyle changes/tradeoffs.”
Meanwhile, three in 10 individuals responded that they are "comfortable" and that "inflation is not really having an impact.”
The latest monthly inflation print showed a spike of 9.1% from a year ago, the highest since 1981. Consumers are paying substantially more for everything from food to energy compared to last year.
Of the more than 1,500 individuals polled, a majority (65%) believe that the U.S Federal Reserve has a plan to combat inflation, though they are split on how effective the measures will be.
One third (34%) believe that the Federal Reserve has a “good plan” compared to a slightly smaller group (31%) who think it has a “bad plan.”
The remaining 35% believe that the Federal Reserve has “no plan” to fight inflation to bring prices down, according to John Wright, executive vice president of Maru Public Opinion.
It’s expected that the Federal Reserve could announce a rate hike of 75 basis points when it concludes its two-day meeting on Wednesday afternoon. The central bank has telegraphed it would increase rates and reduce its balance sheet in order to bring inflation under control.
Ines is a markets reporter covering equities. Follow her on Twitter at @ines_ferre