Three-quarters of Americans say their household expenses have increased in the last year, despite President Donald Trump’s claims that prices are falling in the U.S.
About 74 percent of Americans say their regular monthly household costs increased by at least $100 in the last year, according to a new Harris poll published by The Guardian. Some Americans even said they’re paying between $500 and $749 more each month.
The rising costs were reported by Democrats, Republicans and independents alike. About 54 percent of Americans surveyed also said they believe the economy is in a recession.
These results come as other surveys show consumers are concerned about rising prices. For instance, the preliminary results for the University of Michigan’s Surveys of Consumers revealed that consumers’ five-year outlooks on their household finances have fallen to the lowest point since 2011, according to NBC News.
While the majority of Americans reported price increases, the Harris poll shows they are divided on what’s to blame.
Republicans were more likely than Democrats and independents to blame rising prices on standard yearly changes caused by inflation, according to the Harris poll. But 55 percent of both Democrats and independents said the government’s economic policies are to blame.
The Harris poll also asked Americans to select the biggest risk to the U.S. economy from a list of options, which included: inflation; tariffs; income inequality; immigration; and higher interest rates. Inflation was the top risk among Republicans and independents, while tariffs were the top risk among Democrats.
When reached for comment on the poll, White House spokesperson Kush Desai said that “real wages are up and inflation is trending towards a cool and stable 2.3 percent annualized rate since President Trump took office.”
“As the Trump administration’s aggressive supply-side agenda continues to take effect, Americans can count on further economic relief from Joe Biden’s inflation crisis – on top of trillions in investments that are pouring in to make and hire in America,” Desai told The Independent.
As Americans report rising prices, Trump has declared that prices are down and inflation is over. In remarks from the Oval Office on Thursday, Trump claimed that “groceries are down and energy is down, electricity is way down.”
Daniel Dale, a senior reporter and fact-checker for CNN, addressed Trump’s comments on social media, noting that grocery prices are actually up and rising at “the fastest month-to-month rate in three years.” Electricity prices are also up, he wrote, and were 6.2 percent higher in August compared to last year.
In late September, Trump told the United Nations General Assembly that “grocery prices are down, mortgage rates are down, and inflation has been defeated,” and last week, he wrote on Truth Social that there is “virtually NO INFLATION.”
While inflation has fallen, since its peak at 9 percent in 2022, it’s still above the Federal Reserve’s target rate of 2 percent.
Last month, the Bureau of Labor Statistics released its August consumer price index, which indicated inflation rose 0.4 percent in August and placed the annual inflation rate at 2.9 percent. This marked the first consumer price index report since most of Trump’s tariffs took full effect in August, following initial delays.
The September consumer price index report is expected to be released later this month.
