Two-thirds of U.S. Californians report experiencing financial hardship due to inflation: survey

LOS ANGELES, March 30 (Xinhua) -- Two-thirds of Californians reported experiencing financial hardship due to the recent price increase amid a 40-year high inflation in the United States, according to the latest survey from the Public Policy Institute of California.

Thirty-five percent residents in the Golden State said they had faced serious hardship, the San Francisco-based independent and non-profit research institution said on its official website Tuesday.

The survey, conducted between March 6 and 17, showed that across racial and ethnic groups, Latinos (40 percent) were the most likely to say price increases had caused serious hardship, followed by whites (31 percent) and other racial/ethnic groups (30 percent), and the shares reporting serious hardship declined as education and income levels rise.

Meanwhile, 43 percent of Californians with children in the household reported they had suffered serious hardship due to price increases, compared to 31 percent of those in homes without children. Renters were also much more likely than homeowners to report financial hardship.

California, the most populous and richest state of the United States, is currently considering a range of options, including direct payments to car owners and free public transportation for three months, to help alleviate the financial strain on residents.

However, besides gasoline, the price of food could be a headache for some Californians as well.

The FOX 11 news channel warned Wednesday that though customers already paid more for a bag of flour or a head of lettuce at the grocery store as grocery and supermarket food prices are already 8.6 percent higher now than a year ago, they must get ready to pay even more.

In its monthly update on the Food Price Outlook for 2022, the United States Department of Agriculture (USDA) Economic Research Service (ERS) explained that the ranges for 11 food categories, as well as six aggregate categories, were revised upward in February.

For example, wholesale poultry prices increased by 4.1 percent in February 2022, the ERS said, adding that wholesale poultry prices are now predicted to increase between 9.0 percent and 12.0 percent in 2022.

Wholesale dairy prices increased by 2.0 percent in February 2022 on strong domestic and international demand. Wholesale dairy prices are now predicted to increase between 7.0 percent and 10.0 percent in 2022.

Restaurant food prices are also going up. Menu items are predicted to increase between 5.5 percent and 6.5 percent for the remainder of this year.