New York — As Americans continue to deal with rapid inflation, the stress from rising prices is taking a toll on mental health, according to a report.
A report this month from FinMasters found that 90 percent of people reported negative consequences from financial stress. Older and more affluent people reported it at a lower rate, but a majority still had mental stress.
Paying bills was the largest source of stress and was cited by about 40 percent of people, the report noted. The next highest, at 30 percent, was stress about affording food. About the same percent worried about affording gasoline.
Americans have spent months dealing with increased prices on most goods. That has been especially prevalent in the aisle of grocery stores and at the gas pump. Inflation levels have hit marks not seen in decades.
Politicians have debated ways to help American consumers and slow inflation, but the rising costs continue.
The report found that 39 percent said rising costs have made them stressed or anxious. About 21 percent said it made them worried and 13 percent said it made them angry.
Fewer than 10 percent of people in the survey said they suffered no psychological stress because of inflation.
Despite the price hikes, many Americans aren’t cutting too many costs yet in non-essentials. More than 50 percent said they have not made cuts in spending in areas such as gyms, medical insurance and therapy.
The highest among those was the 27 percent who said they cut gym memberships.
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Author: Alex Lang
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