Despite a decrease in inflation, the middle class continues to experience financial strain. The reason for this is explained below.

• According to a June survey from the National True Cost of Living Coalition, 65% of middle-class Americans reported struggling financially and not anticipating an improvement in their financial situation for the rest of their lives.
• According to Primerica, three-quarters of middle-income families are actively reducing their spending on non-essential items.

According to 2023 figures, the national middle class is defined as households with an annual income between $53,740 and $161,220.

Although the annual rate of inflation in the U.S. has decreased significantly compared to its peak, consumers have not necessarily experienced a dramatic decline in prices. In fact, many categories have only seen costs rising more slowly, as measured by the consumer price index.

In June, a survey from the National True Cost of Living Coalition revealed that 65% of middle-class Americans were financially struggling and believed their situation would not improve in the future.

"Kyle Connolly, a mother of three living in Pensacola, Florida, stated that financially, things have been challenging. She earns a middle-class income and recently found herself with only $125 in her checking account after a month of expenses."

Significant expenses such as housing, child care, and health care are putting pressure on middle-class families.

According to a recent survey by Primerica, 73% of middle-income families find it difficult to save for the future, and three-quarters of them are actively cutting back on non-essential expenses.

"According to Bradley Hardy, a professor of public policy at Georgetown University, individuals in their own neighborhoods and lives have their own expectations for what they can do, where they can go, where they can eat, and where they can live. He stated that when individuals face these pressures on an individual basis, it causes concern."

Discover what's making life unaffordable for middle-class Americans by watching the video above.