A recent CNN poll has found that approximately three out of five Americans have been compelled to modify their grocery shopping lists as a result of persistently high prices, reflecting widespread concern over the cost of living.
Key Findings from the Poll
The survey, which captured responses from across the political spectrum, indicates that 61 percent of Americans have made adjustments to the items they purchase at the grocery store to stay within budget. Additionally, 59 percent of respondents reported cutting back on non-essential spending such as entertainment, while 44 percent have significantly reduced their driving. More drastic measures include 31 percent postponing medical treatments and 27 percent taking on a second job to make ends meet.
Broader Economic Sentiment
These findings align with other recent surveys that underscore the economy as a primary concern for Americans, potentially posing challenges for President Donald Trump and Republicans as midterm elections approach. A Gallup poll revealed that only 16 percent of Americans consider the economy to be excellent or good, with 76 percent believing conditions are deteriorating. Half of respondents described economic conditions as poor, attributing ongoing inflation and soaring gas prices to the Iran war.
Economic confidence has dropped to a four-month low, according to Gallup. Meanwhile, gas prices remain elevated nationwide, averaging $4.45 per gallon as of Wednesday, according to AAA. Approximately eight out of ten voters across all political parties hold the Trump administration responsible for the price hike, as per a Fox News poll, which also cited oil companies, government regulations, and the Iran war as contributing factors.
Political Implications
Recent polls have also delivered troubling results for the president. An Associated Press-NORC Center for Public Affairs Research poll released last week shows that 63 percent of Republicans approve of Trump's handling of the economy, down from roughly 80 percent in February before the Iran war. In another Fox News poll, only 36 percent of non-MAGA Republican respondents approved of the president's economic record, compared to 74 percent among MAGA loyalists.
In May, American consumer confidence fell to an all-time low, according to the University of Michigan's Surveys of Consumers. Wholesale inflation in April climbed to its highest level since 2022, when pandemic-era price hikes were prevalent.
Administration Response
The Independent has contacted the White House for comment. President Trump has downplayed consumer concerns related to the Iran conflict, stating earlier this month, "I don't think about American financial situation — I don't think about anybody. I think about one thing: We cannot let Iran have a nuclear weapon."
Kevin Hassett, the director of the National Economic Council, argued on Thursday that elevated spending indicates the country's resilience. "While people have been spending more money at gas stations, they've been spending more money on everything else, which means that they're still very, very optimistic about the state of the economy, and they should be," Hassett told Fox Business. He highlighted a capital spending boom and labor supply growth due to policies like "No Tax on Tips," adding that the stock market is celebrating. When asked when gas prices might decrease meaningfully, Hassett replied, "I think this thing can resolve itself much faster than people think," without providing a specific timeline.
