States Hit Hardest by Inflation Hold Nearly 75% of Electoral Votes According to NationalBusinessCapital Report
HAUPPAUGE, N.Y., June 4, 2024 /PRNewswire/ — More than 40% of Americans live in the ten states hardest hit by inflation, which together hold nearly 74% of the electoral votes needed to win the presidency, according to a new report by NationalBusinessCapital.com.
The bombshell study: “The 10 U.S. States Where Inflation is Hitting Consumers Hardest,” reveals the major financial strain in key states across the nation. Residents in these states are feeling the pinch of rising costs of goods and services, potentially reshaping the 2024 election.
The full study is available HERE:
Key highlights:
- Electoral Upheaval: The top 10 most affected states wield nearly 75% of the electoral votes. If all these voters based their presidential decision on inflation alone, their candidate would have a virtually insurmountable lead.
- Population Pressure: More than 40% of Americans reside in these inflation-battered states. In fact, the four most populous states: California, Texas, Florida and New York have all been hammered by inflation.
- Income Crunch: California and New York suffer the double blow of soaring prices and shrinking real incomes, heightening economic strain.
- Southern Squeeze: Residents in the most affected Southern states report greater than average difficulty meeting expenses and experience a high rate of credit card delinquency.
- Outliers in Crisis: Alaska and Hawaii, despite their small population, buck the general trend, joining the highly populous states suffering from inflation’s impact.
10 States Where Inflation Is Affecting Consumers Most
#1. California Score (out of 100): 82.9 (1st)
#2. New York Score: 76.3 (2nd)
#3. Florida Score: 72.3 (3rd)
#4. Georgia Score: 70.9 (4th)
#5. Texas Score: 67.8 (5th)
#6. Louisiana Score: 66.8 (6th)
#7. South Carolina Score: 66.6 (7th)
#8. Hawaii Score: 66.2 (8th)
#9. Alaska Score: 65.4 (9th)
#10.Oklahoma Score: 64.2 (10th)
10 States Where Inflation is Affecting Consumers Least
41. Maine (Score: 40.2 out of 100)
42. North Dakota (38.8, tied)
43. New Hampshire (38.8, tied)
44. Idaho (38.3)
45. Iowa (37.7)
46. Minnesota (37.0)
47. South Dakota (36.6)
48. Vermont (35.8)
49. Wyoming (29.7)
50. Montana (28.4)
“It’s unlikely any of the biggest states will change their electoral votes based on inflation alone,” explained Joe Camberato, Chief Executive Officer, NationalBusinessCapital.com. “But, if a significant portion of the population does vote with its pocketbook, it could determine who will be inaugurated next January.”
Methodology
The 7 metrics researchers selected:
- % change in personal consumption expenditures (PCE) (15%)
- % change in real personal income (15%)
- Implicit price deflator (IPD) (16%)
- Change in regional Consumer Price Index (CPI) (15%)
- % reporting difficulty paying for household expenses (16%)
- Credit card delinquency rate (15%)
- Average combined sales tax (8%)
About NationalBusinessCapital:
NationalBusinessCapital helps entrepreneurs secure quick and fair financing to save time and cultivate sustainable growth.
The stress-free online platform is designed for simplicity and speed, helping business owners go from application to approval in a matter of hours. From SBA loans to lines of credit, equipment financing, and more, the company has helped clients secure $2 billion in financing since 2007.
SOURCE NationalBusinessCapital.com
