POLL: Hispanics report major financial strain from inflation

Nonwhite voters are more likely than white voters to say high inflation is causing major financial strain in their lives, according to a report by The Wall Street Journal on Monday.

According to WSJ’s polling, 35% of Black, Hispanic, Asian and other voters who said they were something other than white said that inflation and the high prices of goods are a source of “major financial strain,” compared to 28% of white voters.

Within those demographic groups, Hispanic men and Black women reported the highest proportions of major strain at 44% each.

Income was also a large factor in financial strain reported. Almost half of those with incomes of less than $60,000 reported major financial strain, while only 13% of those making $150,000 or more did.

“Lower-income people clearly have bigger pain points,” said John Anzalone, one of the poll’s directors. “It shouldn’t be surprising, quite frankly, that you would see some softening [support for Democrats], even among African-Americans and Latinos and other people of color.”

Rising costs for energy, food and services has pushed inflation to 7.9% last month compared to a year ago. The Consumer Price Index, which measures the cost of goods and services, has not been this high since it reached 8.4% in Jan. 1982, reports WSJ.

Almost 9 in 10 Republican voters polled think the economy is headed in the wrong direction, compared to 36% of Democrats. 71% of independents also said they think the economy is going the wrong way.

The highest dissatisfaction with the economy was with Hispanic voters, with 78% expressing negativity over the economy.

The poll also found that 47% of respondents said that they think Republicans could best tame inflation, compared with 30% who said Democrats would be better.

A majority of Hispanic voters now report they would probably or definitely back a Republican for Congress in this year’s midterm elections over a Democrat, 46% to 37%. A WSJ poll in November found Hispanics were split.

Inflation and the economy are part of Biden’s low approval ratings, which have drifted below 40% over his response to COVID-19, the botched withdrawal from Afghanistan and dissatisfaction with the Democrat’s legislative agenda.

WSJ reported that some poll participants blamed inflation on President Joe Biden’s green-energy policies that limited U.S. oil-and-gas-drilling and pipelines.

His energy secretary, Jennifer Granholm, has blamed rising gas prices on “an energy transition” because “we have to take some time to get off oil and gas.”