Iran Press/America:Three-quarters of Americans rate the current condition of the economy as fairly bad or very bad, and a majority are concerned about their ability to afford day-to-day expenses, according to a new CBS News-YouGov poll.
The proportion of Americans who view the state of the economy as fairly bad or worse has grown for each of the past two months, rising from 63 percent in April to 75 percent in the latest poll.
The increased pessimism comes after inflation rates in May surpassed economists' expectations, with annual inflation hitting a 40-year high of 8.6 percent. Rising oil, food and shelter costs largely fueled May’s inflation spike.
As the Federal Reserve responds to surging inflation by rapidly raising interest rates, nearly half of respondents said they expect the U.S. economy next year to be in a recession.
More than two years after the outbreak of the coronavirus in the world, American citizens are now witnessing inflation and a jump in commodity prices. Inflation is rooted in the economic effects of the coronavirus epidemic. 219
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Cost of living crisis in US
