Gender and generation reveal differing responsesA recent survey from SophisticatedInvestor.com reveals gender and age related stereotypes affect the perceptions of inflation. Access the full report here.
NEW YORK, May 11, 2022 /PRNewswire/ — A new survey of 2,008 American adults found that nearly 1-in-3 (32.8%) report feeling the effects of inflation on their grocery bill more than anywhere else. Amid generationally high levels of inflation, American families are finding that groceries (32.8%) and gasoline (30.9%) are the two expense items that inflation has impacted the most. The results of a nationally representative survey that found that groceries and gasoline are the household budgetary items hardest hit by inflation.
Previous polling has found that 94% of Americans are upset or concerned about current inflation levels. However, exactly where and how inflation has touched the lives of Americans has scarcely been discussed in comparison.
The nationwide survey, conducted by Sophisticated Investor and published on May 11, 2022, also brings to light that age and gender have a profound impact on how inflation is experienced by Americans.
Women are much more likely than men to claim that their grocery bills have been most impacted compared to men; whereas younger Americans are much more impacted by inflation’s effect on housing than Americans aged 55 or older.
Survey Question & Findings
The survey asked a representative, weighted sample of 2,008 American adults aged 25 and over the following question:
“Where’s inflation hitting you the most?”
- The results found that, for all demographic groups, either groceries or gasoline are the budgetary items that have Americans reeling the most from inflation.
- Women found that their grocery bills were hardest hit (38.2%), whereas men found that the gas pump was where inflation was felt the most (32.8%).
- Older Americans aged 45 or older found that groceries have been most impacted by inflation (36.5%). Compared to retirement-aged respondents (65+), younger Americans aged 25 to 34 were 213% more likely to find that inflation has impacted housing costs more than anything else.
The survey was designed and published by SophisticatedInvestor.com, a free personal finance newsletter and education website. Responses were gathered from a nationally-representative sample, spanning all 50 U.S. states, over a 3-day period between May 6th and May 8th, 2022, and were published on May 11th.
Financial writer Liam Hunt, one of the study authors, commented on the significance of the findings:
“This new survey sheds light on the fact that everyone is experiencing the negative effects of inflation differently, with one’s gender and age having a profound impact on their lived experience of today’s inflationary environment. Sexist stereotypes and gender roles have certainly impacted how men and women experience inflation, with women being disproportionately impacted at grocery store checkouts and men more so at the gas pump.
Furthermore, age-related differences abound in terms of inflation’s impact on housing. Millennials aged 25 to 34 were over twice as likely to claim that housing was most impacted by inflation when compared to retirement-aged individuals. This points to the barriers that young people experience in finding affordable housing, and that a generation divide separates how the young and old experience inflation.”