According to a new poll, a majority of Americans say they think inflation will continue to go up, with half expecting it will rise by “a lot.”
The Gallup poll found that 79 percent said they expect inflation to rise in general, and 50 percent said they were expecting it to rise “a lot.”
Gallup noted that this was the highest percentage of Americans to expect a rise in inflation since 2001, per The Hill.
“In the past, Americans have always been more likely to say inflation will increase rather than decrease, but the current expectation is higher than usual - in fact, it is the highest Gallup has measured in its trend,” the pollster said in a statement. “The prior high was 76% in September 2005. In recent years, from 2007 through 2020, roughly six in 10 Americans have expected inflation to increase.”
While the same survey found that Americans were more likely to predict that the stock market was also going to rise, Gallup noted that it was conducted shortly before stock prices declined. 78 percent also predicted that interest rates will rise as well.
