Cost of Living Tops Concerns for Americans, Inflation Dips Slightly

A new poll conducted by Marquette University Law School shows that cost of living and inflation have surpassed concerns over the Iran war and economy for American adults. The survey, released on Wednesday, found that 35 percent of respondents identified cost of living and inflation as their top concern, while the economy was a close second at 15 percent. In contrast, the Iran conflict fell to its lowest spot in three months since it started being surveyed, with only 10 percent considering it a major issue.

The Marquette poll also reported that 88 percent of Americans do not believe the U.S. has achieved its goal in the Iran war, up from 81 percent in June. Additionally, annual inflation dipped from 4.1 percent in May to 3.7 percent in June, according to the personal consumption expenditure (PCE) price index.

At the end of July, the Federal Reserve chose to leave its benchmark interest rate unchanged for the fifth straight meeting, but three regional Fed presidents dissented, saying they would like to raise rates to combat elevated inflation. This comes at a time when only 28 percent of Americans describe the nation's economy as in an excellent or good state.