President Joe Biden's economic policy, dubbed Bidenomics, seems to be lost on rural Americans, who say they are seeing higher grocery prices despite signs showing that U.S. inflation is steadily declining.
Ipsos' latest consumer tracker, conducted on August 15 and 16, shows that four in five Americans report paying higher prices for groceries and gas than they did this time last year. The tracker found that the effects of inflation are especially felt by those living in rural, 86 percent, or suburban, 85 percent, parts of the country. Seventy-seven percent of those living in urban locations reported higher grocery prices.
Ipsos pollster Chris Jackson told Newsweek that while there are multiple factors that play into the rural and urban divide, it's important to consider the effect that partisanship has over the way Americans see the economy.
"On one hand, rural areas deal with very real food deserts and greater reliance on cars— hence gasoline prices—to get around," Jackson said, adding that at the same time, "Rural residents are more likely to identify as Republican and we know Republicans receive a steady drumbeat of dour news about inflation, which also contributes to their greater reported levels of concern."
Biden has spent the last couple of months touting his economic policy, which he says has been a driving force in the recovery of the U.S. economy.
"Inflation has fallen for 11 straight months and has come down by more than half. And we have done it all while responsibly reducing the deficit," the White House said in a June 28 press release. "None of this progress was an accident or inevitable—it has been a direct result of Bidenomics."
The latest poll figures are part of a continuing trend that suggest Bidenomics is a tough sell for the American public, which still disapproves of the president's handling of the economy.
A poll released by the Associated Press-NORC Center for Public Affairs Research last week found that only 36 percent of participants said they approved of Biden's economic performance. Only 34 percent said they would describe the economy as very good or somewhat good. Another poll conducted by CBS News this month showed that only 30 percent of Americans approved of Biden's handling of inflation.
"The last few years have been challenging for Americans—the global pandemic and Putin's war against Ukraine caused inflation around the world to spike. But we all know polls don't tell the full story," a spokesperson for the White House told Newsweek in a Thursday statement.
"Unemployment is near historic lows, inflation has fallen two-thirds, consumer confidence is increasing, and wages are rising. Bidenomics is lowering costs for hardworking families—taking on Big Pharma to lower prescription drug costs and cap insulin at $35 a month, investing in clean energy to lower energy bills, strengthening supply chains to lower goods prices, and cracking down on junk fees. And inflation expectations are falling as Americans see price increases moderate and wages rise, accounting for inflation."
Although the Biden administration has been focused on highlighting reports that suggest a strong U.S. economy, it doesn't appear as though Americans are seeing his policies translate into food and gas prices.
In Ipsos' latest consumer poll, 70 percent of participants said they noticed an increase in their total household expenses—an increase from the 64 percent who said the same in September 2022.
The survey did show some good news: Americans seem to be faring better when it comes to managing their finances. Compared to an August 2022 poll, fewer people reported being unable to afford gas or groceries in this month's poll. There were also fewer people who received a past due notice for a bill they couldn't pay, while more people said they have taken a vacation.
"While people do report that prices are rising, those prices are impacting people a little less," Matt Carmichael, the head of Ipsos' trends and foresight lab, said on Monday.
Update 8/24/23, 2:16 p.m. ET: This story was updated with comment from the White House.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
About the writer
Katherine Fung is a Newsweek reporter based in New York City. Her focus is reporting on U.S. and world politics. ... Read more
