NC consumers slightly optimistic, according to new HPU poll

RALEIGH, N.C. (WNCN) — Remember “eggflation” and those much higher gas prices? While those costs have come down, people are still feeling the effect of higher prices.

North Carolinians were asked by the latest High Point University poll whether inflation affected major spending decisions they’ve made this year. The largest group, 85% said some or a lot.

But that number improves a bit with 38% saying it’s a bad time to buy major household items and 34% saying it’s neither a good or bad time.

“It looks like consumer sentiment may be headed up. A little bit, but not fast. And so that’s the thing to watch over the next few months, you know, we’re still in the 60s, which is relatively low. You know, with the way that we measure the index, but it does look like it went up four or five points since the last time we did this in November,” said Martin Kifer, HPU poll director and associate professor of political science.

Kifer added, “The public really does hear the news about the improving economy and take that into account when they evaluate what’s going on. But they also have pocketbook concerns. You don’t have to hear news about how you’re feeling, right? You know how you’re orienting yourself to the economy and whether you feel positive or not. And so that’s one of the things that’s kind of lagging right now—is people aren’t feeling particularly good about where they are with their personal budgets, their personal finances.”

Of those polled, 47% said they’re worse off financially than a year ago while 51% said they are better or the same.

Looking ahead to five years down the road, 23% expect widespread unemployment or a depression, 16% expect good times and 45% believe it will be a mix of both.

“They may be a little bit more positive than they have been, but they’re not over the moon about the prospects for the future,” Kifer said.

Kifer said the importance of the economy doesn’t break among political party lines.

“We look deeper in the data. You know, Republicans, Democrats and Unaffiliated voters all have that really high in the 60s and 70s, in terms of being a very important issue, so there’s consensus on that being important,” said Kifer. “And so as inflation changes, whether it goes up or down, that’s one of the things that campaigns on any side are going to have to think about. It’s like: are we criticizing the current office holders because of inflation or are we going to have to move on to a different issue because that doesn’t seem to be what’s moving voters?”

You can view the full results of the HPU poll here.

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