The Washington Post published a news article by economy reporter Abha Bhattarai that said Americans are getting used to inflation and “learning to deal with” it. This runs contrary to various indicators, including a Gallup poll which found that 56% of Americans said inflation is causing hardship.
“After months of gloom, Americans are finally starting to feel better about the economy and more resigned to inflation,” Bhattarai wrote.
“Americans are making small changes — buying meat in bulk, for example, or shifting more of their shopping to discount chains — suggesting that many families are learning to deal with higher prices,” she continued.
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Following similar talking points as the White House, Bhattarai emphasized gas coming down from a record high of $5, saying the “25 percent drop in costs has been substantial for many Americans.”
“Overall inflation, meanwhile, has eased slightly — prices remained flat in July, though they’re still up 8.5 percent from a year ago — as a result of aggressive interest rate hikes by the Federal Reserve,” she wrote.
The article detailed the account of Nils Haaland, a man in Omaha who said “soaring prices for fuel and food this summer forced him and his wife to stop dining out, postpone summer travel and buy less meat.”
“Although prices are still relatively high, he says he feels less worried that inflation will continue to spiral out of control,” The Post reported.
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The article also detailed the story of Jack Foote, a California man who planned to retire in June but stayed at his job over fears that the economy will falter further.
“Although inflation is still a top priority for U.S. voters in the run-up to the midterm elections, the share of Americans who say it is their biggest concern has fallen,” Bhattarai reported.
“The Fed’s latest ‘beige book’ report, released this week, found that many households have traded down to cheaper goods and are shifting more of their spending toward essentials like food,” Bhattarai wrote.
“That has certainly been the case at Walmart, where executives say they’re seeing more middle- and high-income customers than usual,” she said.
This is not the first mainstream media article geared at lowering the American public’s expectations regarding their standard of living due to inflation. Last year, Bloomberg published an article titled “For Americans Shocked by Inflation, Argentines Have Some Advice” which detailed ways in which Americans should modify their behavior and lower their expectations in order to cope with inflation.