Full Breakdown
Rising Cost of Living Leaves Nearly Half of Americans Struggling to Cover Basics
By Drooid · · How we work
Scope of the Financial Strain
A recent Pew Research Center survey finds that close to 50 % of Americans report difficulty paying for essential items such as food, housing, medical care, or daily transportation over the past year. The hardship is especially pronounced among lower-income adults, with nearly 75 % indicating they have struggled to meet these basic needs.
Demographic Disparities
The study highlights that Black and Hispanic adults, women, younger people, and those without college degrees are more likely to experience financial challenges. Among those at the lower end of the income spectrum, about 50 % say they cannot pay some bills each month, and 77 % lack enough savings to cover three months of emergency expenses.
Broad Cutbacks in Discretionary Spending
Financial pressure extends across income levels. Even among wealthier respondents, 51 % report cutting back on discretionary spending such as dining out and entertainment during the past year. This pattern underscores how rising costs are prompting households of all economic brackets to tighten budgets.
Official Response and Outlook
Pew senior associate director of research Juliana Horowitz emphasizes that the groups most likely to have lower family incomes are also the ones feeling the greatest strain. The findings arrive as the nation heads into the midterm election cycle, with many voters expressing intense anxiety about affordability. Persistent inflation and higher gas prices—linked to the ongoing war in Iran—continue to elevate everyday costs, shaping both public sentiment and political discourse.
Verbatim Quotes
- “We find consistently that these groups that are more likely to have lower family incomes are the ones who are struggling the most,” — Juliana Horowitz, senior associate director of research at the Pew Research Center
