It is no secret that citizens have noticed a spike in prices all over the United States. Going grocery shopping, paying for gas, or even just paying bills is becoming more difficult for families every day.
According to an article by the National Business Capital, “Our results found inflation distressed states to be primarily located in the South, where households appear to be particularly sensitive to price increases.”
There are 10 states specifically that have been the most targeted for inflation and have had larger increases in prices in a number of communities. As citizens of the U.S, a changing economy is always expected, however it is now more than ever beginning to negatively impact communities leaving the costs of daily life harder to maintain and keep up with.
Focusing on the top five states who are targeted the most, California, New York, Florida, Georgia, and Texas are all known to be the most impacted states with extremely high inflation rates. As some of the states with the most expensive cities, personal incomes have declined significantly.
Post-pandemic, citizens have noticed a spike in gas and grocery prices and are hopefully waiting for rate cuts to happen in the next year or two. In addition, Americans have also begun to save their incomes and avoid certain brands sticking with more budget friendly stores.
An example of this can be represented at stores like the Dollar Tree. For years, the store has been known to sell all items for just one dollar. However, they made a rather significant change this year, increasing the price of every single item to $1.25. In March of 2024, Dollar Tree announced that they would be increasing their prices further, to a minimum of $1.50 being their largest increase to date. The company has defended this decision by releasing a statement on their website:
“In the midst of unprecedented inflation, Dollar Tree recently changed its primary price point to $1.25 in order to continue to offer our customers all the products they’ve come to know and love.”
Despite these efforts, some customers feel the once affordable store for weekly groceries is now less accessible. Especially when purchasing a number of items at any store, prices are guaranteed to add up turning a quick shopping trip into an expensive one.
For business owners, keeping business’ up is harder than ever.
“Shipping traits have increased, so I have to up my prices in clothing and accessories.” mentions Joshua Usi ’25, as an owner of a clothing business. Entrepreneurs often start small businesses as an additional source of income, but are forced to close their business because of how expensive materials and accessories truly are.
Additionally, for adults and parents, inflation can cause numerous struggles especially when working not only to support themselves but their families. With money earned by working, not only does a person have to think about how to save money but on what to spend it on.
Remaining conscious of spending and where money is either going or coming from is crucial in these times.
“It’s hard for me as a head of household as we try to raise a family, pay bills, buy food, our housing etc,” said Alex Datoc ’87.
Although inflation might be starting to cool down, it has left a long lasting impact on citizens of the United States. According to an analysis by the California Legislative Analyst’s Office, prices have grown about 20 percent since 2020. This is a vast difference and has led to difficulty in paying expenses.
“It affects every aspect of our lives,” added Datoc.
As a whole, rising prices equal rising problems and if inflation continues to rise, the U.S. will begin to see more economic instability in more areas than ever before. For this very reason, Americans are beginning to focus on saving more and spending less in order to stay afloat in this time where living is the most expensive it’s ever been.
