Key facts
- 60% of U.S. adults report insufficient income for their desired lifestyle.
- 53% lack emergency funds to cover three months of expenses.
- 27% struggle to pay monthly bills.
- Over 45% of U.S. households could not afford basic necessities in 2024.
- Consumer prices rose 4.2% year-over-year in May 2026.
Rising inflation has made it difficult for many Americans to afford basic necessities, according to recent research. A Pew Research Center survey conducted in August 2026 found that 60% of U.S. adults feel they do not have enough income to live the life they want, and 53% lack emergency funds to cover three months of expenses. Additionally, 27% of adults reported difficulty paying their monthly bills, and 32% expressed daily worry about healthcare costs and debt.
Overall, 70% of U.S. adults have reduced spending on non-essential items over the past year, with 54% unable to save money for the future. These financial challenges are more pronounced among lower-income individuals, women, Black and Hispanic adults, and young adults. A separate report from the Brookings Institution indicated that in 2024, nearly half of American households could not afford basic necessities. Consumer prices in May 2026 were up 4.2% from the previous year, exacerbating these affordability issues.