According to the latest poll released by Gallup on Wednesday, April 30, despite inflation remaining the primary financial issue facing American households in 2025, the mention of it has declined by 12 percentage points, marking the largest change since last year.
The economic and personal financial survey conducted by Gallup from April 1 to 14 on 1006 adults revealed that 29% of Americans cited high cost of living or inflation as their most significant financial concern, a decrease from 41% in 2024 and 35% in 2023.
The survey found that housing costs and financial shortages are the second most commonly cited financial challenges after inflation, mentioned by 12% of American adults.
Medical expenses rank third at 7%, while stock market investments come in fourth at 6%. The survey also showed that 5% of respondents mentioned tax and debt issues.
According to the poll, over half of Americans (53%) stated that their financial situation is worsening, while 38% said it is improving.
The survey revealed that 44% of respondents described their financial situation as “very good” or “good,” a decrease of 13 percentage points from early 2021.
37% of respondents indicated their financial situation as “fair,” while 18% said it is “poor.”
Inflation is the most commonly mentioned issue among all income groups, with middle-income Americans having a higher frequency of mentioning it at 38%, compared to 24% for high-income earners and 27% for low-income individuals.
The survey showed that retirement savings and stock market investments are the top concerns for high-income earners, but not for lower-income groups.
Among low-income individuals, low wages or financial shortages are the second major issue, while housing is a concern across all income levels.
Moreover, the proportion of Americans worried about being unable to afford medical expenses for serious illness or accidents and housing costs has significantly increased. Since 2019, these two concerns have increased by 8 percentage points each, reaching 37% and 19% respectively.
According to the survey, Americans across all income levels are currently more worried about these financial issues than in 2019, with the increase being relatively consistent among different income groups.