Cost of Living Surges to Top Concern for Americans Amid Iran War Fears

A new poll from Marquette University Law School has found that cost of living and inflation are the top concerns for Americans, surpassing worries about the economy and the Iran war. According to the poll, which surveyed 1,076 adults between July 22-29, 35% of respondents cited cost of living and inflation as their most important issue.

This is not a new concern for Americans, with 56% of respondents ranking cost of living and inflation either first or second in importance since January. The economy was the second most pressing concern, cited by 15% of respondents. Meanwhile, worries about the Iran war have decreased, with only 10% citing it as their top concern.

The poll also found that a majority of Americans (75%) do not believe the US has achieved its goals in the Iran war, and that only 28% describe the nation's economy as being in an excellent or good state. Additionally, the Federal Reserve recently chose to leave interest rates unchanged for the fifth straight meeting, despite some regional Fed presidents dissenting in favor of a rate hike to combat inflation.

Annual inflation has dipped from 4.1% in May to 3.7% in June, according to the PCE price index, which is the Federal Reserve's preferred measure of inflation. The poll's findings suggest that Americans are increasingly concerned about the impact of inflation on their daily lives.