Poll: It's Not a Very Merry Season for Consumers

This holiday season isn't quite so merry for American shoppers as many are dipping into savings, scouring for bargains, and feeling like the overall economy is stuck in a rut under President Trump, a new AP-NORC poll finds. The vast majority of US adults say they've noticed higher than usual prices for groceries, electricity, and holiday gifts in recent months, according to the survey. Roughly half of Americans say it's harder than usual to afford the things they want to give as holiday gifts, and similar numbers are delaying big purchases or cutting back on nonessential purchases.

The poll found that when they do shop, about half of Americans are finding the lowest price more than they would normally. About 4 in 10 are dipping into their savings more than at other times. Democrats are more likely than Republicans to say they're cutting back on expenses or looking for low prices, but many Republicans are sticking to budgets more than usual as well. About 4 in 10 Republicans are looking for low prices more than they usually would, while a similar share are shopping for nonessential items less than usual.

• The survey indicates that it's the level of prices—and not just the rate of inflation—that is the point of pain for many families. Roughly 9 in 10 US adults, 87%, say they've noticed higher than usual prices for groceries in the past few months, while about two-thirds say they've experienced higher prices for electricity and holiday gifts. Only about half, however, say they've seen higher than normal prices for gas recently.

• People felt similarly dismal about holiday shopping and the economy in an AP-NORC poll from December 2022, when Joe Biden was president. Inflation had spiked to a four-decade high that summer. Three years later, inflation has eased substantially, but it's still running at 3%, a full percentage point above the Federal Reserve's target.
• Trump's series of tariffs have added to inflationary pressures and generated anxiety about the stability of the US economy, keeping prices at levels that many Americans find frustrating, the AP reports. The president has insisted there is "no" inflation and the US economy is booming. He has expressed frustration that the public feels differently. "When will Polls reflect the Greatness of America at this point in time, and how bad it was just one year ago?" he said in a Truth Social post Thursday. Most US adults, 68%, continue to say the country's economy is "poor," which is unchanged from December 2024, before Trump returned to the presidency.
• About 4 in 10 US adults expect next year will be economically worse for the country. Roughly 3 in 10 say conditions won't change much. Only about 2 in 10 think things will get better, with Republicans being more optimistic. The belief that things will get better has slipped from last year, when about 4 in 10 said that 2025 would be better than 2024.