A newly released poll indicates that 48% of Americans are thinking about rising prices all the time.
Inflation Is Weighing Heavily on People’s Minds
A recently released poll by CNBC + Acorns Invest in You survey, conducted March 23-24, indicated that 48% of Americans are worried about rising prices. A cumulative 76% of 3,953 adults surveyed said that inflation will “force them to rethink their financial choices in the coming months.”
An important question for you. 2022 is here…have you completed your 2022 Real Estate Business and Lead Generation Plan? If not, no worries. We have done the hard work for you. Download your 2022 REAL ESTATE TREASURE MAP! Text HARRIS to 47372. It’s that simple and takes 3 seconds. Text HARRIS to 47372 and when you do we will instantly text you back with a link to download. BONUS: For a limited time when you text HARRIS to 47372 you will also receive a Coaching Call!
4 Msgs/Month. Reply STOP to cancel, HELP for help. Msg&data rates may apply. Terms & Privacy: slkt.io/JWQt
Take a look at answers to this question:
How worried are you that higher prices will force you to rethink your financial choices in the coming months?
- 37% – very worried
- 39% – somewhat worried
- 18% – not too worried
- 4% – not at all worried
- 1% – no answer
Current Ramifications of Higher Prices
According to a Moody’s Analytics analysis, inflation is currently costing the average American household an extra $296/month.
Experts overall anticipate that things (inflation and higher prices) will get worse for average households before they improve.
Specifics of cost-cutting measures consumers have already taken:
- 53% – cut back on dining out
- 39% – cut back on driving
- 35% – canceled one or more monthly subscriptions
- 32% – switched from brand-named products to generics
- 29% – canceled trip/vacation
- 22% – delayed car purchase
- 20% – borrowed money or took on credit card debt to cover expenses
- 15% – delayed buying a home
- 13% – did not pay bills
Most survey respondents indicated they would cut back more if inflation worsened. They also indicated they are most concerned about gas prices, housing costs and food costs.
Moody’s Analytics chief economist Mark Zandi said, “People are definitely on edge. Recession risks are high.”
An eye-popping 81% of the CNBC + Acorns Invest in You survey respondents indicated that they believe a recession is likely to become a reality this year.
Zandi put the odds at 1 in 3 and rising.
Prediction about When Inflation May Slow?
Zandi believes that inflation was brought on by the pandemic and its effects of supply chain and labor market disruptions and worsened by the Russian invasion of Ukraine which spiked gas and food prices.
Zandi said, “If that diagnosis is correct, as the pandemic fades and as we get to the other side of the fallout of the Russian invasion, inflation should moderate.”
URGENT: Are You Worried About Having A Slower Start To The Year? Don’t Hit The Panic Button, Learn How To Have Massive Success In A Shifting Market. When You Attend This Exclusive Training You Will Learn 17 Surprising Secrets Of The Top 100 $ Millionaire Agents. Claim Your FREE Spot Now. After You Have Attended This Event You Will Experience A Huge Feeling Of Relief Knowing You Will FINALLY Laugh At Your Money Worries – You Will Have Your Own Personalized 2022 Step-By-Step Business And Lead Generation Plan. Learn Now How To Generate 100’s of Motivated Leads for FREE, Without Coming Off As A Pushy Salesperson and Losing Your Soul. You Will Soon Know How To Become One of the 1000s of Agents Making HUGE Money In This Changing Market. Claim your FREE spot now. YES, I Want To Attend The FREE Webinar! <——Click To Register
P.S. Free Webinar, Limited Space. Less Than 300 Spots Still Available.
Thanks to CNBC.