Nearly two-thirds of US shoppers said that stubborn inflation will prevent them from buying a new phone this year, according to a survey released Tuesday — putting a possible damper on Apple sales of its latest iPhone.

The survey by WalletHub also found that nine in 10 who were polled said they think iPhones are overpriced.

“When day-to-day living costs are already high, it’s hard for many people to justify an expensive phone upgrade,” WalletHub analyst Chip Lupo said in a statement.

“Apple and other phone companies may need to consider lowering prices or offering more substantial feature differences between models to entice customers.” 

Apple may struggle to sell its newly-unveiled iPhone 16 as cash-strapped customers keep their old phones due to inflation, according to a new survey.

The survey also found that 27% view someone with the newest iPhone as “wasteful.” 

Apple did not immediately respond to requests for comment.

The California tech giant unveiled its highly-anticipated, AI-powered iPhone 16 during an event on Monday.

Its new iPhone 16 retails for $799 and the iPhone 16 Plus costs $899, while the more powerful iPhone 16 Pro and Pro Max models retail at $999 and $1,119, respectively.

But some of the new phones’ AI features won’t be available for users until October – more than a week after the phones hit stores.

A new WalletHub survey found that a majority of people say inflation will prevent them from buying a new phone this year.

The AI delay coupled with a hefty price tag amid sticky inflation may put off cash-strapped customers.

The annual inflation rate in the US for the 12 months ended July was 2.9%, above pre-pandemic levels, according to US Labor Department data.

The company is hoping its new iPhone 16’s AI features will draw back customers and excite tech junkies.

Apple has been banking on the iPhone 16’s AI features enticing customers and boosting phone sales.

The company posted a 10% drop in year-over-year iPhone sales in second-quarter results last May – the worst decline the company has seen since the pandemic.

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