Concern over grocery prices in New York highest in 14 years
LOUDONVILLE, New York (WWNY) - The perceived impact grocery shopping has on the budgets of New Yorkers is at an all-time high.
Pollsters at Siena College Research Institute say it’s at the highest point since they began tracking the measurement 14 years ago.
Siena college released its poll on New Yorkers’ consumer confidence on Wednesday.
Eighty-one percent of those polled say grocery prices had a serious or somewhat serious impact on their finances. That’s up from last quarter’s 79%.
Gasoline prices are still a concern, although less than they were. Sixty-three percent of all New Yorkers say gas prices are having a serious or somewhat serious impact on their bottom line, down from 66% last quarter.
The state’s overall Index of Consumer Sentiment is 13 points above the nation’s, 75 vs. 62.
It’s also up 2.7 points from when it was last measured in the fourth quarter of 2022.
The increase is driven largely by New York City residents, younger New Yorkers, Democrats, and men.
Upstate residents, Republicans, those over 55, and women, however, express more pessimism than optimism.
Consumer confidence is broken down between the present and the future. The current index increased over three points to 70.1 and the future index increased by two points to 78.1.
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