What happens after you submit your survey responses? Where do your answers go? How is your opinion used? We want to answer these questions by sharing past examples of how your responses and opinions have made an impact.
You’ve probably been hearing in the news about the increasingly high cost of living. We asked Americans about their experiences in a recent poll. A majority (58%) of Americans are worried about the effects of creeping inflation on their finances. Twelve per cent of Americans admit to being panicked about inflation. Of this group, 15% live in the Midwest, 18% are aged between 35 and 54, and 18% are in the lowest income bracket (less than $25,000 household income per year). About a third of respondents (30%), said they are comfortable, and that inflation was not impacting them. Of this group, 34% live in the Northeast, are aged 55 or older (36%), and 47% are in the highest income bracket of $100,000 and over of household income per year.
A majority of those surveyed (58%) have set stricter limits for themselves, rejuggling their priorities and reducing their spending. Some (68%) go further saying it’s time to divest themselves of stocks and invest their money elsewhere, while 32% feel now is a good time to invest in the stock market. Those who feel now is not a good time for stock investments are living in the West (37%), aged 18-34 (40%) and those with the highest household income of $100,000 and over (49%). Due to the current situation, 54% of Americans feel that the central bank will plunge the country into a recession if they raise interest rates.
The current economic situation is making a significant impact on peoples’ lives. When asked about what they decreased their spending on, respondents named food purchased from grocery stores or restaurants (62%), clothing and footwear (57%), and entertainment (57%) among the top items. The greatest food cuts were made in the Midwest, among females, and those making less than $25,000 household income per year (all at 65%). Public and commuter transportation, along with air transportation were both decreased by 23%, while energy costs were reduced by 21%.
Has inflation impacted you?
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