Record 49 Percent of Americans Say Inflation Eroding Living Standards

A record share of Americans say that high prices are eroding their standard of living, suggesting the fight against inflation is far from over.

A shopper surveys stacks of clothing on a sales table in a Costco warehouse in Colorado Springs, Colo., on June 22, 2023. David Zalubowski/AP Photo

A whopping 49 percent of Americans say high prices are eroding their living standards, a number that matched the all-time high set in July 2022, when the pace of inflation was a whisker away from breaking into the double digits.

“After stabilizing earlier this year, concerns about inflation have grown again,” the University of Michigan Surveys of Consumers report reads.