High inflation in the United States continues: low-income families cannot afford to raise children, and people think the situation will get worse

Multiple surveys show that the financial situation of the American people continues to deteriorate. According to the survey report, affected by the continued surge in inflation, as many as 66% of the American people said that their financial situation is worse than a year ago. The latest report released by the US consulting firm Edelman Financial Engines shows that 71% of employees believe that wages cannot keep up with the soaring cost of living, and the number of people who “feel financially secure” has dropped to the lowest level in five years. In addition to the doubling of daily cost pressure, the American people are even more difficult to spend on medical expenses. A survey result released by the US Gallup Consulting Company on January 5 showed that nearly 40% of American adults have encountered situations such as being unable to pay for medical expenses and having difficulty in obtaining high-quality medical services. Most of them believe that medical expenses are one of the sources of daily stress. Gallup said that according to the results of this survey, about 18 million American adults feel “extremely difficult” to afford medical expenses, highlighting that the American people are “dissatisfied” with the cost-effectiveness of medical services. For low-income people, high inflation has brought a greater blow. Moody’s Analytics, a provider of financial and economic intelligence, estimates that American families need to pay an average of $445 more to buy the same goods and services as a year ago. High inflation has led to rising prices for daily necessities in the United States, and low-income families can’t even afford to raise children. A survey by the American maternal and child website “Baby Center” found that American parents’ basic expenses in the first year after the birth of their babies are at least $16,000. However, many low-income families only earn $500 a month, and the soaring prices of baby products have hit them particularly hard. The Federal Reserve has raised interest rates seven times in nine months, with a cumulative increase of 425 basis points, the largest increase in 40 years. Judging from the US economic situation, the effect of the Fed’s sharp interest rate hike is far less than expected. The average annual growth rate of the US consumer price index is about 8.1%, the highest level in 40 years. The US CPI rose by 7.1% year-on-year, still running at a high level, far from the long-term inflation target of 2%. The appreciation of the US dollar brought about by the sharp interest rate hike has severely impacted the international financial market and brought uncertainty to the world economy.