Americans are so strapped for cash these days that nearly 2 in 5 had a hard time paying for everyday expenses last week, a new survey has revealed.
Between late June and late July, 37.4% of American adults found it somewhat or very difficult to pay for typical expenses in the past seven days, according to an analysis of the U.S. Census Bureau's most recent Household Pulse Survey.
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The survey, which measures how emergent issues are impacting households from a social and economic perspective, shows Americans in some areas of the country are having a harder time making ends meet than others.
"Economic pain is everywhere — but it's not evenly distributed," Alex Fitzpatrick wrote for Axios. "Americans in parts of the South and Southeast are having an especially hard time paying for everyday expenses compared to those elsewhere."
According to the data, Mississippi has the highest percentage of residents struggling to make ends meet, with nearly half of adults (49.5%) finding it somewhat or very difficult to pay for usual household expenses in the last seven days. That's followed by Alabama with 45.5% of adults saying the same, and West Virginia with 43.5%.
On the other hand, the New England area has the fewest residents reporting such difficulties. Adults in Washington, D.C. (19.3%), Vermont (26.4%) and Minnesota (27.4%) are the least likely to say they have trouble affording basic needs.
Top 10 states with the highest percentage of adults who have trouble affording basic needs:
1. Mississippi -- 49.5%
2. Alabama -- 45.5%
3. West Virginia -- 43.5%
4. Louisiana -- 43.1%
5. Arkansas -- 42.6%
6. Indiana -- 42.1%
7. Florida -- 41.8%
8. Georgia -- 41.7%
9. Oklahoma -- 40.3%
10. New York -- 40%
Top 10 states with the lowest percentage of adults who have trouble affording basic needs:
1. Washington, D.C. -- 19.3%
2. Vermont -- 26.4%
3. Minnesota --27.4%
4. Massachusetts -- 29.5%
5. Maine -- 30.4%
6. New Hampshire -- 30.8%
7. Wisconsin -- 31.2%
8. South Dakota -- 31.7%
9. Connecticut -- 32.6%
10. Rhode Island -- 32.8%
Inflation has been a constant pest to Americans over the past three years, affecting the cost of eggs, housing, gas, travel, and everything else with a price tag. But now, prices appear to be heading in the right direction, which could mean relief is on the way. According to the Bureau of Labor Statistics, the Consumer Price Index rose 2.9% in the 12 months through July, the smallest annual increase reported in more than three years.
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