Last week, we asked readers: “How are you coping with rising inflation?” A total of 733 respondents answered to voice their opinions.
The most commonly selected response by voters was that they were “spending less” with 70.53 percent of the vote (517 readers).
Another 20.19 percent stated that they “haven’t changed a thing” in response to inflation (148 readers).
Rounding out the vote, 5.32 percent said they are selling investments (39 readers), and 3.96 percent said they are looking for another job (29 readers).
Rising prices on everything from groceries to motor vehicles have sent many Americans into a state of worry. This trend towards stagflation is reminiscent of what occurred in the U.S. in the 1970s under President Jimmy Carter.
Some companies simply cannot keep up with the demand of consumers who are eager to spend more money following a year of lockdowns. While economists project that prices will stabilize and lower soon, the past few months under President Biden will cause some Americans to reconsider his economic plans.