“Inflation is a key issue in the election despite other economic indicators being generally strong,” said one political expert.
Most Americans believe inflation is currently higher than it really is, according to a new poll. A disconnect between economic perceptions and reality that could hamper Vice President Kamala Harris’ chances of election victory.
Inflation was 2.9 percent in July, according to data released by the Bureau of Labor Statistics on August 14. A report published by YouGov on Wednesday found that whilst 31 percent of respondents said inflation was between two and four percent, two thirds believe this figure to be higher.
Eleven percent of respondents believed the current inflation figure to be greater than 16 percent. The U.S. inflation rate hasn’t been close to 16 percent since 1980, when it reached 14.8 percent. The highest recorded inflation rate was 23.7 percent in June 1920.
Inflation and the economy have consistently been shown to be the top issue for voters ahead of November’s presidential election.
