According to a new study released this week, one in every five pensioners is expected to return to work this year as a result of rising inflation under President Joe Biden.

The unprecedented inflation issue in the United States has continued to affect practically every aspect of American life, and now even people who had vowed to retire and enjoy their golden years are being driven back into the workforce.

The tendency contrasts sharply with the higher-than-normal number of Americans who retired during the early stages of the COVID-19 epidemic.

Those planning to re-enter the workforce said they are doing so primarily to alleviate the financial hardship caused by growing consumer expenditures. In fact, 69 percent of respondents stated that they would return to work to battle rising expenses due to inflation and supply chain issues.

Another 12.5 percent stated that they required additional funds to pay off medical bills incurred during the outbreak. In general, an eye-opening 83 percent of those contemplating unretirement indicated financial problems.

The poll asked for answers from 800 retired Americans over the age of 54.

Stacie Haller, a career consultant, attempted to put a positive spin on the results when commenting on the study.

Consumer prices jumped 8.5 percent year over year earlier this year, reaching a 40-year high. Many Americans are feeling the pinch as a result of the rising numbers, and many are predicting a recession.

After months of dismissing inflation as just temporary, the Biden administration and the Federal Reserve have now conceded that the situation is severe.

The Federal Reserve acted this week, albeit possibly too late, by boosting short-term interest rates by a half-percentage point, the largest increase since 2000. In the next months, more rate rises are predicted.