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Over half of Americans pessimistic about inflation

orisox.com | Updated: 2022-05-11 16:16

Ricardo Aguirre looks at the prices of takeaway containers at Costco in Phoenix, Arizona, US, April 20, 2022. Prices of necessary items for his food truck have added up as inflation continues. [Photo/Agencies]

More than half of Americans believe inflation in the US will have a "big negative impact" on their long-term financial goals such as buying a home or retiring comfortably, according to Country Financial's Security Index, CNBC reported on May 9.

Just over a thousand adults were polled from March 18 to 20 to complete the report. About 90 percent are concerned about inflation with 60 percent "very concerned", a rise from 48 percent during the fourth quarter of 2021.

"Everyone's concerned about inflation," said Troy Frerichs, vice president of investment services at Country Financial. "It's been obviously way more impactful here in the first quarter with everything else going on."

Recession fears appeared for several reasons including stock market volatility, surging inflation and rising interest rates, and people also have other worries like starting or raising a family, buying a car, traveling and investing in the stock market.

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