56% of Americans Say Everyday Life is Less Affordable Due to Soaring Oil and Gas Prices
With rising consumer prices, primarily driven by soaring oil and gas costs due to the ongoing war in Iran, many Americans are feeling financial pressure.
A CNBC and SurveyMonkey Quarterly Money Survey released in April found that 56% of respondents say everyday life has become less affordable for their household compared to last year.
The survey cited rising prices in various categories: groceries (76%), gas and transportation (71%), utilities (49%), healthcare expenses (37%), insurance (35%), and rent or mortgage (32%).
To help cover daily expenses, 40% of Americans have dipped into their savings.
Some credit cards can help offset the cost of rising prices. For example, the Blue Cash Preferred Card from American Express earns 6% cash back at U.S. supermarkets and 3% cash back at eligible gas stations.