Majority of Americans say they are "getting worse" financially: poll

NEW YORK, May 25 (Xinhua) -- A majority of U.S. voters say that their financial situation is worsening amid rising inflation and mounting fears of a looming economic recession, The Hill reported on Tuesday, citing a new Harvard CAPS/Harris Poll.

Fifty-six percent of those surveyed said that, financially, things are "getting worse," the highest percentage on record for the poll. That's up sharply from last month, when 48 percent reported that their financial situations were weakening.

Meanwhile, the percentage of voters who say their financial situation is improving is near its all-time low in the poll, with just 20 percent of respondents saying so.

"This is a devastating finding that has been climbing month after month - no matter how they are actually doing, a solid majority believes now they are becoming worse off economically and that is America's most critical read on the mood of the voters," said Mark Penn, the poll's co-director.

"The pessimistic view of Americans' personal finances comes as the country continues to face the highest rate of inflation in decades. Consumer prices climbed 8.3 percent in April compared with a year earlier, marking the fastest increase in roughly 40 years," said The Hill.