It’s often said that Americans agree on almost nothing these days, a sign of the times. But that’s not entirely true. There’s one topic on which there’s near-unanimous agreement: Inflation. Americans of all political persuasions expect prices to shoot up over the next year.
The data are unequivocal: In our November I&I/TIPP Poll, 84% said “over the next year prices for gasoline, food, and other household products” would be “much higher” or “somewhat higher” than today. Only 8% thought they’d be lower, while 5% weren’t sure.