Stress Due to Inflation on the Rise Among Working-Age Population: New Report

A recent research project, supported by the National Institute of General Medical Sciences, has revealed that stress due to inflation is increasingly prevalent among the working-age population. The findings, spanning from September 2022 to June 2023, indicate that stress levels have risen significantly, despite a noted decline in the national inflation rate in some countries. The report suggests that persistent price increases may have a cumulative effect on stress over time.

Research Focus and Findings

The study, titled “Stress due to Inflation: Changes Over Time, Correlates, and Coping Strategies Among Working-Age Adults,” was conducted during a period when inflation in the United States dropped from 8.2% to 3%. The research aimed to explore the relationship between inflation and various demographic and social determinants of health (SDOH).

Key findings indicate that individuals with certain characteristics—such as women, those with income below 400% of the federal poverty line, individuals who have lost employment income, or those facing food insecurity or long-term COVID-19 challenges—are more susceptible to stress due to inflation. The study concluded that over three-quarters of working-age adults experience this stress, despite the recent decline in national inflation rates.

Inflation’s Impact on Living Standards and Health

The report underscores how inflation can erode purchasing power, elevate the cost of living, and threaten the ability to meet basic needs like food and housing. This perceived threat triggers a survival stress response, potentially linking inflation to psychological and physiological stress.

“Inflation can constrain spending patterns, making it challenging for individuals and households to maintain their standard of living or meet basic needs,” the report states. It adds that the interrelation of inflation with other stressors, such as poverty and job loss, can exacerbate stress levels and reduce overall well-being.

Coping Strategies and Future Expectations

To cope with rising prices, over 90% of working-age adults have adopted various strategies. More than half use low-price coupons, dine out less frequently, and delay major purchases. Others switch to generic brands, reduce expenses on subscriptions and events, and seek additional jobs despite potential increased transportation costs.

A significant characteristic among those stressed by inflation is the anticipation of continued price increases. A majority expect prices to rise further in the next six months, suggesting a disparity between stress perception and the national inflation rate.

Implications for Mental Health and Policy

The report warns that ongoing and increasing stress due to inflation could have significant implications for mental health outcomes, potentially leading to conditions such as cardiovascular disease, hypertension, and infectious diseases. It advocates for a broader focus on health policies in conjunction with anti-inflationary monetary and fiscal measures to mitigate the mental and physical health impacts of inflation-induced stress.