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Tags: u.s. | economy | rising prices | americans | stressed

US Money Reserve: Americans Stressed About Rising Prices

By    |   Wednesday, 13 December 2023 03:12 PM EST

Most American adults are stressed about recent increases in prices, according to U.S. Money Reserve.

In surveys from this year's third quarter, 47.9% of U.S. adults say they were "very stressed" about price increases within the previous two months. Another 47.1% say they were "moderately" or "a little" stressed.

As for the country's near-future economically, 57.5% say they are very concerned about price increases in the next six months, and just 5.1% say they are not at all concerned.

U.S. consumer confidence rose in November after three straight monthly declines. Most economists are not forecasting a recession, but rather a period of very slow growth.

"While the rate of price increases is falling closer to historical norms and the Federal Reserve's target inflation rate of 2%, prices are still rising, and consumers are still feeling the cumulative effects of rapid inflation that dates back to early 2021," U.S. Money Reserve Director of Education Brad Chastain wrote in a summary about the states most impacted by inflation.

"According to Bureau of Labor Statistics data, $1 today has the same purchasing power as just $0.85 in January 2021."

Also, reports the U.S. continues to add jobs and experience wage growth "have not shaken U.S. adults' feelings of financial difficulty," Chastain said.

According to surveys conducted by the Federal Reserve, 35% of U.S. adults in 2022 reported that they were doing worse off financially than 12 months prior. That figure was up from 20% in 2021 and 14% in 2019, the year preceding the COVID-19 pandemic.

U.S. Money Reserve, using third-quarter data from the Census Bureau, ranked the states terms of residents' stress levels regarding the economy.

States in which more than 50% of respondents said they were "very stressed" about recent price increases included Mississippi (56.7%), Louisiana (55.2%), Florida (53.6%), Texas (53%), Oklahoma (52.6%), Kentucky (52.3%), Georgia (52.2%), West Virginia (51.6%), Alabama (51.5%), Nevada (51%), and Arizona (50.7%).

Georgia, Nevada and Arizona are swing states expected to play a big role in the 2024 presidential election.

Charlie McCarthy

Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.

© 2024 Newsmax. All rights reserved.


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Most American adults are stressed about recent increases in prices, according to U.S. Money Reserve. In surveys from this year's third quarter, 47.9% of U.S. adults say they were "very stressed" about price increases within the previous two months.
u.s., economy, rising prices, americans, stressed
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2023-12-13
Wednesday, 13 December 2023 03:12 PM
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