Americans have a very different understanding from economists of what inflation is and how the economy works.
The latest Daily Kos/Civiqs survey finds that pluralities of Americans—across party lines—think the problem of inflation won't be solved until prices drop back down to where they were a few years ago; that in a good economy, prices will naturally drift downward; and that when inflation goes down, prices either go down or stay the same.
The vast majority also say that something went seriously wrong in the economy over the last few years. A large portion of the public even says that the recent bout of inflation was worse than what we experienced in the 1970s and '80s.
