46%

NJ residents who say they’re very stressed about recent price increases

December 15, 2023 | Number of The Day

The Federal Reserve has tweaked and tortured the U.S. economy for the past three years, trying to reduce the rate of inflation. The annual rate slowed to 3.1% in November, the lowest reading in five months, though well above the Fed’s stated target of 2%. Still, it was a big improvement on the peak of 9.1% in June 2022, the highest rate since November 1981.

Problem is, the good news hasn’t reached beyond the Beltway. According to a new study from U.S. Money Reserve, 46.4% of New Jersey adults reported feeling “very stressed about price increases,” while 55.1% said they’re very worried about future price increases. Some 16.6% said they find it very difficult to cover usual expenses.

It’s not much better in nearby states: 48.6% of adults in New York said they are very stressed about price increases; in Connecticut, it’s 46.4%, and in Pennsylvania it’s 45.4%.

What state is home to the biggest worriers? That would be Mississippi, where 56.7% of adults said they’re very stressed about recent price increases.