Inflation Is ‘Very Stressful’ for Almost Half of US Households

Posted on October 6, 2022Comments Off on Inflation Is ‘Very Stressful’ for Almost Half of US Households
© Reuters.

(Bloomberg) — Almost half of US families surveyed by the Census Bureau found the recent rise in consumer prices “very stressful” — and the vast majority of the others were also worried about inflation.

The Census Bureau included a new question about the impact from soaring prices in its regular household poll. The result shows that nearly everyone was at least a little stressed by inflation, and particularly so in fast-growing cities like Miami, where the cost of living has surged.

The survey also highlights disparities among ethnic groups. More than half of Hispanic and Black respondents found inflation “very stressful,” compared with about 43% for Whites and about 38% for Asian Americans.

Stress can lead to health problems such as elevated blood pressure and heart disease. 

The number of respondents who have difficulty paying their bills is increasing amid rising interest rates and economic uncertainty. More than 40% of households report having a hard time covering usual expenses in the latest survey, conducted from Sept. 14 to Sept. 26. That’s up from less than a third two years ago. 

The household survey was started in 2020 to provide close to real-time data on how the Covid-19 pandemic is affecting people’s lives.

©2022 Bloomberg L.P.

 

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