Overview
- Gallup’s latest survey finds a 25-year high in financial pessimism, with more respondents saying their situation is getting worse for a fifth straight year.
- Cost of living tops the list of personal money problems at 31%, and energy jumps to 13%, which is up 10 points from last year and the highest share since 2008.
- Gas prices have surged to a $4.11 national average, according to AAA, after running below $3 before the Iran war, squeezing commuters and household budgets.
- Some airlines raised baggage fees and ticket prices to cover higher fuel costs, with United’s CEO citing fare increases of 15% to 20%, The Independent reports.
- Axios says the pocketbook strain, and the gas spike in particular, poses a growing political risk for President Trump and Republicans even as inflation runs below its 2022 peak.