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.