Fewer Americans rating personal finances positively as prices rise: poll

Fewer Americans rate their personal financial situation positively as prices continue to rise amid record inflation in the U.S., a new Gallup poll shows. 

The new poll published Thursday found that 46 percent of those surveyed said their current financial situation is either “excellent” or “good,” which is down from 57 percent in 2021. 

When asked the same question, 38 percent of respondents said their financial situation was “only fair,” while 16 percent of those surveyed said their financial situation is currently “poor”. 

Thirty-seven percent of respondents said their financial situation is getting better, while 48 percent of those surveyed noted that their current financial situation is getting worse. 

Gallup noted that the current poll figures are similar to the one in April 2020 during the early stages of the COVID-19 pandemic. 

In another poll question, 67 percent of respondents said they have enough money to live comfortably, which is down 4 percent from last year. 

Thirty-two percent of respondents cited inflation as the most important financial problem in the country, as ten percent of those surveyed said energy costs or gas and oil prices as the main problem. 

On the topic of inflation, 37 percent of respondents from upper-income households believe inflation is a major concern for the country, while 32 percent of respondents from middle-income households and 27 percent of respondents from lower-income households agree. 

Seventy percent of respondents from lower-income backgrounds said the recent price hike in gasoline has caused financial hardship in their households, with 51 percent of respondents from middle-income households and 35 percent of respondents from upper-income households said so as well. 

The findings for the latest Gallup poll were conducted from April 1-19. No sample size or margin of error was given.