40% of Americans Think Current Elevated Inflation Rates Will Be Permanent

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Oct 19, 2022, 08:39 ET

Americans say inflation is the No. 1 issue facing the U.S., ahead of health care, immigration, abortion, crime and gun violence, and more.

ST. LOUIS, Oct. 19, 2022 /PRNewswire/ -- As Americans continue to feel the strains of current inflation rates, most believe it will only get worse, according to a new survey from Clever Real Estate, a St. Louis-based real estate company.

Clever polled 1,000 Americans and found that 4 in 5 (78%) believe inflation has become a crisis. In fact, nearly 1 in 4 respondents (23%) rank inflation as the most pressing issue facing the country, and about half (47%) place it in the top three.

Most Americans overestimated the September inflation rate of 8.3%.

What types of goods have you noticed becoming more expensive in 2022?

Although inflation is a major concern among Americans, few seem to understand it. About half of respondents (46%) claim to know the current inflation rate, but only 25% actually do, while 64% incorrectly believe inflation is at an all-time high.

Americans are not optimistic that things will improve any time soon – 62% of Americans expect the cost of everyday goods to rise in 2023, and almost half (40%) think inflation rates will never go back down. Only 26% of respondents believe the economy will improve in 2023.

Almost all Americans (93%) have cut costs this year amid inflation, but only 37% say their household income has increased. More than half (53%) say they don't make enough money to live comfortably, with 38% reporting that they cannot afford everyday expenses.

Conservatives rank President Biden's policies (60%) as the No. 1 cause of inflation, while liberals consider the COVID-19 pandemic to be the No. 1 cause (65%). Political differences aside – 74% of Americans who plan to vote in the 2022 midterm elections say inflation will play a part in how they vote.

Read the full report at: https://listwithclever.com/research/american-inflation-expectations-2022/

About Clever Real Estate

Clever Real Estate was founded in 2017 with the mission of making buying and selling real estate easier and more affordable. Clever's primary service matches sellers and buyers with local real estate agents, providing lower rates for the client and leads for the agent. To date, Clever's agent network includes 12,000 agents across all 50 states.

Please contact Alyssa Evans at [email protected] to be connected with a researcher with any questions or for an interview.

CONTACT: Alyssa Evans
Clever Real Estate
[email protected]
315-690-1518

SOURCE Clever Real Estate