According to a recent survey conducted by the U.S. Census Bureau, more than 57% of American households have had at least some difficulty affording their usual expenses in the last week, and over 93% of American adults reported stress related to higher prices in the last two months.
While inflation has cooled in the last two years, the Consumer Price Index remains above the Federal Reserve's target rate of 2%, highlighting ongoing financial pressures for American households.
In Arizona, for example, goods and services were about 0.1% less expensive, on average, than they were nationwide in 2022, yet 56.2% of Arizona households faced difficulties with household expenses.
According to the Bureau of Economic Analysis, goods and services are about 11.4% more expensive within U.S. metro areas than they are outside of metro areas, reflecting the disparity in living costs.
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