Half of Americans say they are financially worse off now than they were a year ago, the highest amount since 2009, according to a Gallup survey published Wednesday.
An even greater share of lower-income respondents said they are losing ground, according to the Jan. 2-22 survey. Roughly 61% of those with household incomes below $40,000 report that their financial situation has deteriorated over the past year. Just 26% indicated that it has improved.
By comparison, about 49% and 43% of respective middle- and high-income households said their financial situation worsened last year.
Stubbornly high inflation has created severe financial pressures for most U.S. households, which are forced to pay more for everyday necessities like food and rent. The burden is disproportionately borne by low-income Americans, whose already-stretched paychecks are heavily impacted by price fluctuations.
