More than half of Americans say record-high gasoline prices are causing them financial hardship, and three in 10 say it is a "serious" hardship, up significantly in the last few years and a potential hazard to broader consumer confidence.
In a new ABCNEWS/Washington Post poll, 54 percent say recent price increases in gasoline have caused financial hardship in their households — about as many as said so two years ago.
But the difficulty is now deeper: 31 percent say they are experiencing "serious" hardship, up from 20 percent in spring 2002, and 17 percent in 2001.
An Energy Department survey says pump prices now average $1.81 a gallon — an all-time high, up 22 percent in just the last four months. No respite is in the offing; the department reports that "conditions are likely to remain volatile through the summer."
Surging Food Prices
And gasoline prices aren't the only prices rising. Food prices are surging: Over the past 12 months, eggs are up 33 percent, beef's up 13 percent, chocolate's at a 17-year high, and — just in time for summer — ice-cream prices are expected to be 20 percent to 30 percent higher.
The Labor Department today reported that the Producer Price Index was up 0.5 percent in March, including a 1.5 percent rise in food prices, the biggest increase since October.
Americans' overall economic concerns have eased somewhat in recent months, and, though still weak, consumer confidence has improved from its recent lows. But rising gas prices are a threat: The public's buying intentions, a component of consumer confidence, have been sensitive to high pump prices in the past.
Indeed in an ABCNEWS/Money magazine poll this week, just 36 percent call it a good time to buy things, three points below average and down seven points since February.
If there were any doubt about rising costs for food and gas, this article should solidify the verdict. Costs are rising and there is no end in sight. There is an answer, however.
What if you could receive $200 Walmart gift cards over and over again that can be used for gas, groceries, and goods at Walmart and Sam's Club and $100 plus checks just for sharing an amazing opportunity with others and helping them to do the same. Would that make a difference in your family's monthly budget? It has in ours.
Call us to find out more and to get our webinar schedule. Discover the answer to these rising costs that is so simple almost anyone can do this, even your grandmother. I know, because that's what I am.
What if you could receive $200 Walmart gift cards over and over again that can be used for gas, groceries, and goods at Walmart and Sam's Club and $100 plus checks just for sharing an amazing opportunity with others and helping them to do the same. Would that make a difference in your family's monthly budget? It has in ours.
Call us to find out more and to get our webinar schedule. Discover the answer to these rising costs that is so simple almost anyone can do this, even your grandmother. I know, because that's what I am.
Have a blessed day,
