How to make your life a little easier, by giving yourself a little peace of mind: A new survey has found that people who are worried about the return of inflation are much less likely to buy.
The study, released Tuesday by the Federal Reserve Bank of New York, found that those who have never been to a shopping mall or other shopping center reported higher levels of fear and anxiety than those who had been there in the past.
It found that among people who had never been in a shopping center, those who felt like a return to inflation would make their life a lot easier were more likely to say they would buy something if it came at a higher price, or say that a purchase would make them feel better.
Those who said they would return to a time when prices were higher were also more likely than those with no prior experience to say that it would make it harder to find the items they wanted, or that it made it more difficult to shop for them.
The survey also found that respondents were less likely than the general population to be satisfied with their current level of financial security, and that a return of higher inflation was the reason people were more concerned.
For example, a person who had lived in a household where they had earned a paycheck but had no savings or credit cards, said that the reason they were worried was because they were thinking about a future when they had to borrow money to buy groceries.
When the respondent was asked whether inflation would cause a financial crisis, they were more than twice as likely as those who were not concerned to say it would not.
For those who answered yes, the survey found that fear of inflation was a reason that people were less satisfied with how their financial situation was.
For the general public, people who said that inflation would not cause a crisis were more satisfied with the amount of money they had in their savings accounts than those without the fear of a crisis.
The results were similar for people with higher levels and income.
But the survey also looked at the effects of inflation on people’s willingness to shop.
Those who reported that inflation was not a reason for fear were more willing to buy less.
People who said inflation would have a positive effect on them reported a higher level of comfort with shopping than those that said inflation was part of the reason for their anxiety.
And those who said it would have negative effects on them were less willing to shop and more likely not to buy items they were interested in, the study found.
This article was originally published on The Conversation.
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