Special Report

States Where Inflation Is Stressing People Out the Most

industryview / iStock via Getty Images

On July 26, the Federal Reserve increased its benchmark interest rate by a quarter of a point, to a range of 5.25% to 5.5%, making it more expensive to borrow money for everything from business loans to home mortgages. It was the 11th hike since the Fed declared war on inflation on March 17, 2022, when the rate was increased to a range of 0.25% to 0.5%.

Federal Reserve Chair Jerome Powell has warned more hikes may be forthcoming in an effort to pull inflation back down to 2% from its current 3%. (Inflation hit a 40-year high of 9.1% in June 2022.)

Despite the marked decrease in consumer prices, most people are still on edge about rising prices. Last year, the Fed’s annual survey of household economic well-being deduced that 37% of Americans lack enough money to cover a $400 emergency expense.

To determine the states where inflation is stressing people out the most, 24/7 Tempo reviewed data on inflation-related stress levels from the U.S. Census Bureau’s Household Pulse Survey. States were ranked based on the percentage of adults who report experiencing moderate or severe stress caused increases in prices in the past two months.

Supplemental data on the percentage of adults who report having difficulty paying for household expenses in the previous seven days (respondents were surveyed between June 28 and July 10, 2023) also came from the Household Pulse Survey. Data used to calculate the percentage change in personal consumption expenditures per capita – a measure of inflation – from 2020 to 2021 and the percentage change in personal income per capita over the same period comes from the U.S. Bureau of Economic Analysis. (These are the states with the highest per capita income.)

Here is where inflation is stressing out the most people

The share of adults reporting “moderate” to “severe” stress from higher prices ranged from 52% in Minnesota to 69% in West Virginia. Among the 10 most populous states, where more than half of the people in the country reside, Florida had the largest share of these stressed-out adults at 65.7%, while nearly 66% of adult Texans reported difficulties in paying for household expenses. (Here’s a list of the American cities with the most credit card debt.)

Increases in per capita personal consumption expenditures ranged from 9.9% in Vermont and New Hampshire to 14.5% in Florida, while per capita personal income growth varied from 6.1% in Missouri to 8.7% in California.

Inflation pushes personal consumption expenditures higher as consumers pay more for products and services. When personal consumption increases at a higher rate than personal income, it forces consumers to cut spending on non-essentials like streaming services and purchase cheaper, lower-quality products. It can also increase personal or household debt.

Aerial_Views / E+ via Getty Images

50. Minnesota
> Pct. adults reporting moderate to severe stress around inflation: 51.5%
> Pct. adults reporting difficulty paying for household expenses: 52.1% (the lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +10.1% (3rd lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.5% (19th lowest)

[in-text-ad]

SeanPavonePhoto / iStock via Getty Images

49. Maine
> Pct. adults reporting moderate to severe stress around inflation: 54.3%
> Pct. adults reporting difficulty paying for household expenses: 62.0% (19th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.2% (24th lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.2% (14th lowest)

Sean Pavone / iStock via Getty Images

48. Massachusetts
> Pct. adults reporting moderate to severe stress around inflation: 55.0%
> Pct. adults reporting difficulty paying for household expenses: 57.4% (9th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +14.0% (3rd highest)
> Chg. in personal income per capita, 2020 to 2021: +6.2% (16th lowest)

Art Wager / E+ via Getty Images

47. Hawaii
> Pct. adults reporting moderate to severe stress around inflation: 55.2%
> Pct. adults reporting difficulty paying for household expenses: 63.5% (16th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.5% (14th lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.0% (11th lowest)

[in-text-ad-2]

4nadia / iStock via Getty Images

46. North Dakota
> Pct. adults reporting moderate to severe stress around inflation: 55.9%
> Pct. adults reporting difficulty paying for household expenses: 56.8% (8th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.0% (7th lowest)
> Chg. in personal income per capita, 2020 to 2021: +5.7% (7th lowest)

SeanPavonePhoto / iStock via Getty Images

45. Pennsylvania
> Pct. adults reporting moderate to severe stress around inflation: 56.1%
> Pct. adults reporting difficulty paying for household expenses: 61.4% (23rd highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.2% (11th lowest)
> Chg. in personal income per capita, 2020 to 2021: +5.6% (6th lowest)

[in-text-ad]

milehightraveler / iStock via Getty Images

44. Colorado
> Pct. adults reporting moderate to severe stress around inflation: 56.1%
> Pct. adults reporting difficulty paying for household expenses: 59.9% (21st lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.4% (8th highest)
> Chg. in personal income per capita, 2020 to 2021: +8.2% (5th highest)

pabradyphoto / iStock via Getty Images

43. Iowa
> Pct. adults reporting moderate to severe stress around inflation: 56.2%
> Pct. adults reporting difficulty paying for household expenses: 56.6% (7th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.6% (17th lowest)
> Chg. in personal income per capita, 2020 to 2021: +7.1% (21st highest)

marchello74 / iStock via Getty Images

42. Wisconsin
> Pct. adults reporting moderate to severe stress around inflation: 56.5%
> Pct. adults reporting difficulty paying for household expenses: 53.8% (2nd lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +10.9% (5th lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.9% (25th highest)

[in-text-ad-2]

ferrantraite / E+ via Getty Images

41. Virginia
> Pct. adults reporting moderate to severe stress around inflation: 57.1%
> Pct. adults reporting difficulty paying for household expenses: 58.6% (15th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.6% (21st highest)
> Chg. in personal income per capita, 2020 to 2021: +6.5% (20th lowest)

DenisTangneyJr / E+ via Getty Images

40. Vermont
> Pct. adults reporting moderate to severe stress around inflation: 57.8%
> Pct. adults reporting difficulty paying for household expenses: 56.5% (6th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +9.9% (the lowest)
> Chg. in personal income per capita, 2020 to 2021: +4.2% (the lowest)

[in-text-ad]

Jacob Boomsma / iStock via Getty Images

39. Alaska
> Pct. adults reporting moderate to severe stress around inflation: 58.1%
> Pct. adults reporting difficulty paying for household expenses: 59.2% (17th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.1% (8th lowest)
> Chg. in personal income per capita, 2020 to 2021: +4.7% (2nd lowest)

pawel.gaul / E+ via Getty Images

38. Michigan
> Pct. adults reporting moderate to severe stress around inflation: 59.0%
> Pct. adults reporting difficulty paying for household expenses: 60.9% (25th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.4% (12th lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.0% (10th lowest)

Kruck20 / iStock via Getty Images

37. Maryland
> Pct. adults reporting moderate to severe stress around inflation: 59.0%
> Pct. adults reporting difficulty paying for household expenses: 57.6% (10th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.4% (13th lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.1% (12th lowest)

[in-text-ad-2]

LoweStock / iStock via Getty Images

36. Washington
> Pct. adults reporting moderate to severe stress around inflation: 59.0%
> Pct. adults reporting difficulty paying for household expenses: 55.8% (4th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.0% (21st lowest)
> Chg. in personal income per capita, 2020 to 2021: +8.0% (10th highest)

JaySi / iStock via Getty Images

35. Illinois
> Pct. adults reporting moderate to severe stress around inflation: 59.2%
> Pct. adults reporting difficulty paying for household expenses: 60.5% (24th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.9% (5th highest)
> Chg. in personal income per capita, 2020 to 2021: +8.1% (7th highest)

[in-text-ad]

Jacob Boomsma / iStock via Getty Images

34. South Dakota
> Pct. adults reporting moderate to severe stress around inflation: 60.0%
> Pct. adults reporting difficulty paying for household expenses: 59.1% (16th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.0% (15th highest)
> Chg. in personal income per capita, 2020 to 2021: +6.6% (22nd lowest)

DenisTangneyJr / E+ via Getty Images

33. Connecticut
> Pct. adults reporting moderate to severe stress around inflation: 60.5%
> Pct. adults reporting difficulty paying for household expenses: 58.5% (14th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.6% (16th lowest)
> Chg. in personal income per capita, 2020 to 2021: +5.6% (5th lowest)

Sean Pavone / iStock via Getty Images

32. Missouri
> Pct. adults reporting moderate to severe stress around inflation: 60.6%
> Pct. adults reporting difficulty paying for household expenses: 64.4% (13th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.1% (23rd lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.1% (13th lowest)

[in-text-ad-2]

samuel howell / iStock via Getty Images

31. New Mexico
> Pct. adults reporting moderate to severe stress around inflation: 60.6%
> Pct. adults reporting difficulty paying for household expenses: 65.5% (10th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.9% (4th highest)
> Chg. in personal income per capita, 2020 to 2021: +7.6% (15th highest)

MattGush / iStock via Getty Images

30. California
> Pct. adults reporting moderate to severe stress around inflation: 60.7%
> Pct. adults reporting difficulty paying for household expenses: 61.5% (22nd highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.4% (7th highest)
> Chg. in personal income per capita, 2020 to 2021: +8.7% (the highest)

[in-text-ad]

DenisTangneyJr / iStock via Getty Images

29. Delaware
> Pct. adults reporting moderate to severe stress around inflation: 61.2%
> Pct. adults reporting difficulty paying for household expenses: 58.0% (11th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.4% (25th highest)
> Chg. in personal income per capita, 2020 to 2021: +6.3% (17th lowest)

Kruck20 / iStock via Getty Images

28. Tennessee
> Pct. adults reporting moderate to severe stress around inflation: 61.2%
> Pct. adults reporting difficulty paying for household expenses: 64.6% (12th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.3% (10th highest)
> Chg. in personal income per capita, 2020 to 2021: +8.2% (4th highest)

jbentley09 / iStock via Getty Images

27. Oregon
> Pct. adults reporting moderate to severe stress around inflation: 61.3%
> Pct. adults reporting difficulty paying for household expenses: 58.4% (12th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.1% (12th highest)
> Chg. in personal income per capita, 2020 to 2021: +7.9% (11th highest)

[in-text-ad-2]

Sean Pavone / iStock via Getty Images

26. Indiana
> Pct. adults reporting moderate to severe stress around inflation: 61.4%
> Pct. adults reporting difficulty paying for household expenses: 63.4% (17th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.0% (22nd lowest)
> Chg. in personal income per capita, 2020 to 2021: +8.1% (6th highest)

Jacob Boomsma / iStock via Getty Images

25. Nebraska
> Pct. adults reporting moderate to severe stress around inflation: 61.7%
> Pct. adults reporting difficulty paying for household expenses: 58.4% (13th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.2% (11th highest)
> Chg. in personal income per capita, 2020 to 2021: +6.7% (24th lowest)

[in-text-ad]

TomasSereda / iStock via Getty Images

24. New York
> Pct. adults reporting moderate to severe stress around inflation: 61.7%
> Pct. adults reporting difficulty paying for household expenses: 61.2% (24th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.1% (9th lowest)
> Chg. in personal income per capita, 2020 to 2021: +7.0% (23rd highest)

peeterv / iStock via Getty Images

23. Montana
> Pct. adults reporting moderate to severe stress around inflation: 61.8%
> Pct. adults reporting difficulty paying for household expenses: 60.1% (22nd lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.0% (14th highest)
> Chg. in personal income per capita, 2020 to 2021: +5.2% (3rd lowest)

ChrisBoswell / iStock via Getty Images

22. New Jersey
> Pct. adults reporting moderate to severe stress around inflation: 62.1%
> Pct. adults reporting difficulty paying for household expenses: 56.5% (5th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.4% (9th highest)
> Chg. in personal income per capita, 2020 to 2021: +7.6% (14th highest)

[in-text-ad-2]

SeanPavonePhoto / iStock via Getty Images

21. Rhode Island
> Pct. adults reporting moderate to severe stress around inflation: 62.5%
> Pct. adults reporting difficulty paying for household expenses: 55.8% (3rd lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.9% (17th highest)
> Chg. in personal income per capita, 2020 to 2021: +7.3% (20th highest)

Kruck20 / iStock via Getty Images

20. North Carolina
> Pct. adults reporting moderate to severe stress around inflation: 62.7%
> Pct. adults reporting difficulty paying for household expenses: 60.9% (25th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.8% (20th highest)
> Chg. in personal income per capita, 2020 to 2021: +8.0% (9th highest)

[in-text-ad]

Rosie Osuna / iStock via Getty Images

19. Utah
> Pct. adults reporting moderate to severe stress around inflation: 63.0%
> Pct. adults reporting difficulty paying for household expenses: 63.8% (15th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +14.3% (2nd highest)
> Chg. in personal income per capita, 2020 to 2021: +7.3% (19th highest)

Seibel Photography LLC / iStock via Getty Images

18. Idaho
> Pct. adults reporting moderate to severe stress around inflation: 63.3%
> Pct. adults reporting difficulty paying for household expenses: 60.1% (23rd lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.8% (18th highest)
> Chg. in personal income per capita, 2020 to 2021: +5.7% (8th lowest)

Kruck20 / iStock via Getty Images

17. Alabama
> Pct. adults reporting moderate to severe stress around inflation: 63.6%
> Pct. adults reporting difficulty paying for household expenses: 68.4% (2nd highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.5% (23rd highest)
> Chg. in personal income per capita, 2020 to 2021: +7.7% (12th highest)

[in-text-ad-2]

dszc / E+ via Getty Images

16. Arizona
> Pct. adults reporting moderate to severe stress around inflation: 63.8%
> Pct. adults reporting difficulty paying for household expenses: 61.9% (20th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.5% (15th lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.2% (15th lowest)

Sean Pavone / iStock via Getty Images

15. Kentucky
> Pct. adults reporting moderate to severe stress around inflation: 64.0%
> Pct. adults reporting difficulty paying for household expenses: 65.7% (9th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.0% (20th lowest)
> Chg. in personal income per capita, 2020 to 2021: +8.0% (8th highest)

[in-text-ad]

pawel.gaul / E+ via Getty Images

14. Ohio
> Pct. adults reporting moderate to severe stress around inflation: 64.0%
> Pct. adults reporting difficulty paying for household expenses: 59.5% (19th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.2% (10th lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.4% (18th lowest)

TriggerPhoto / iStock via Getty Images

13. Kansas
> Pct. adults reporting moderate to severe stress around inflation: 64.0%
> Pct. adults reporting difficulty paying for household expenses: 59.6% (20th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.6% (18th lowest)
> Chg. in personal income per capita, 2020 to 2021: +5.2% (4th lowest)

Barbara Smyers / iStock via Getty Images

12. Texas
> Pct. adults reporting moderate to severe stress around inflation: 64.1%
> Pct. adults reporting difficulty paying for household expenses: 65.9% (8th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.8% (19th highest)
> Chg. in personal income per capita, 2020 to 2021: +7.6% (13th highest)

[in-text-ad-2]

DenisTangneyJr / E+ via Getty Images

11. New Hampshire
> Pct. adults reporting moderate to severe stress around inflation: 64.2%
> Pct. adults reporting difficulty paying for household expenses: 59.4% (18th lowest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +9.9% (2nd lowest)
> Chg. in personal income per capita, 2020 to 2021: +7.0% (24th highest)

Noah Densmore / iStock via Getty Images

10. Georgia
> Pct. adults reporting moderate to severe stress around inflation: 64.3%
> Pct. adults reporting difficulty paying for household expenses: 61.8% (21st highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.7% (6th highest)
> Chg. in personal income per capita, 2020 to 2021: +7.5% (17th highest)

[in-text-ad]

jmoor17 / iStock Unreleased via Getty Images

9. Wyoming
> Pct. adults reporting moderate to severe stress around inflation: 64.8%
> Pct. adults reporting difficulty paying for household expenses: 66.5% (6th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.4% (24th highest)
> Chg. in personal income per capita, 2020 to 2021: +5.8% (9th lowest)

Sean Pavone / iStock via Getty Images

8. Oklahoma
> Pct. adults reporting moderate to severe stress around inflation: 65.2%
> Pct. adults reporting difficulty paying for household expenses: 67.0% (4th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.0% (6th lowest)
> Chg. in personal income per capita, 2020 to 2021: +6.6% (21st lowest)

SeanPavonePhoto / iStock via Getty Images

7. Mississippi
> Pct. adults reporting moderate to severe stress around inflation: 65.6%
> Pct. adults reporting difficulty paying for household expenses: 72.5% (the highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +11.9% (19th lowest)
> Chg. in personal income per capita, 2020 to 2021: +7.5% (16th highest)

[in-text-ad-2]

SeanPavonePhoto / iStock via Getty Images

6. Florida
> Pct. adults reporting moderate to severe stress around inflation: 65.7%
> Pct. adults reporting difficulty paying for household expenses: 62.8% (18th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +14.5% (the highest)
> Chg. in personal income per capita, 2020 to 2021: +8.6% (3rd highest)

Rdlamkin / iStock via Getty Images

5. Arkansas
> Pct. adults reporting moderate to severe stress around inflation: 66.1%
> Pct. adults reporting difficulty paying for household expenses: 66.2% (7th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.2% (25th lowest)
> Chg. in personal income per capita, 2020 to 2021: +7.4% (18th highest)

[in-text-ad]

f11photo / iStock via Getty Images

4. Nevada
> Pct. adults reporting moderate to severe stress around inflation: 66.1%
> Pct. adults reporting difficulty paying for household expenses: 66.8% (5th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.6% (22nd highest)
> Chg. in personal income per capita, 2020 to 2021: +8.6% (2nd highest)

DenisTangneyJr / iStock via Getty Images

3. Louisiana
> Pct. adults reporting moderate to severe stress around inflation: 66.1%
> Pct. adults reporting difficulty paying for household expenses: 68.4% (3rd highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +13.1% (13th highest)
> Chg. in personal income per capita, 2020 to 2021: +6.6% (23rd lowest)

Kruck20 / iStock via Getty Images

2. South Carolina
> Pct. adults reporting moderate to severe stress around inflation: 66.2%
> Pct. adults reporting difficulty paying for household expenses: 64.1% (14th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +12.9% (16th highest)
> Chg. in personal income per capita, 2020 to 2021: +6.8% (25th lowest)

[in-text-ad-2]

Sean Pavone / iStock via Getty Images

1. West Virginia
> Pct. adults reporting moderate to severe stress around inflation: 69.0%
> Pct. adults reporting difficulty paying for household expenses: 65.3% (11th highest)
> Chg. in personal consumption expenditures per capita, 2020 to 2021: +10.7% (4th lowest)
> Chg. in personal income per capita, 2020 to 2021: +7.1% (22nd highest)

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.