Stress Due to Inflation and Its Association with Anxiety and Depression Among Working-Age Adults in the United States

Inflation generates stress, which may lead to high rates of anxiety and depression. Given the recent surge and subsequent decline in the inflation rate in the United States, the prevalence of stress due to inflation may vary, as well as its relationship with anxiety and depression. Therefore, we investigated the prevalence of stress due to inflation and its association with anxiety and depression over time among working-age adults in the United States. We conducted a repeated cross-sectional analysis using Household Pulse Survey (HPS) data for the following weeks: Week 50 (5–17 October 2022) and Week 57 (26 April–8 May 2023). The HPS includes questions about individuals’ stress levels due to price increases in the past two months. We used logistic regressions to examine the association of stress (moderate or high stress versus little or no stress) due to inflation with depression and anxiety among working-age adults controlling for several factors, including demographic factors and social determinants of health. From October 2022 to April–May 2023, the prevalence of stress due to inflation affected more than three quarters of the population (77.7% and 78.7%, respectively). In logistic regressions, we found a significant positive association of stress due to inflation with depression (adjusted odds ratio (AOR) [95% CI] = 2.22 [1.92, 2.57]) and anxiety (AOR [95% CI] = 2.50 [2.18, 2.86]). Despite a decline in the prevalence of both depression and anxiety by three percentage points over the study period, the associations between stress, due to inflation on the one hand, and anxiety and depression, on the other, persisted over time. Stress due to inflation affects more than three-quarters of Americans, and is significantly associated with depression and anxiety. Stress due to inflation is a significant and persistent public health issue.