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New election data shows that most Utah residents are considering postponing or postponing their summer travel plans in the face of ongoing inflation and high gas prices.
And, the results of the survey are in line with local and national consumer sentiment sentiment, which has been at an all-time low in June.
Public opinion poll conducted by 808 voters at the State Desert News / Hinckley Political Institute from June 16 to 29 confirmed that gas prices and inflation were among the issues to be decided whether or not to travel in the next three months.
Gas prices were high for 53% of respondents and inflation was a concern for 41% of respondents. Covide-19 case rates and hotel availability each raised significant concerns among 18% of respondents, although nearly a third said the ongoing outbreak had not taken into account their decision to travel.
The new ballot data collected by Dan Jones and his associates comes with an error margin of 3.45%.
US inflation slowed in April but returned to a 40-year high of 8.6% in May, according to a recent US Department of Labor index.
The mountainous western states, including Utah, continue to have the highest regional inflation in the country, with the average price of goods and services rising 9.4%, up from 9.8% in April.
U.S. consumers are now paying for housing costs by 11.9%, gas by 48.7% by 2021 and 5.5% by May 2021.
Prices for new and used vehicles increased by 12.6% and 16.1%, respectively.
Widespread inflation in the United States is putting pressure on families, forcing them to pay more for food, gas, and rent, and to buy everything from haircuts to electronics to vacations. Low-income and black and Hispanic Americans are particularly struggling because on average, large incomes are consumed on demand.
And nationally, the average gas price has dropped for the past several weeks after the $ 5 gallon mark last month, and Utah drivers have continued to enjoy high prices at local pumps.
On Friday, the AAA reported that the current US price was down $ 4.72 a gallon and $ 5.02 a gallon from mid-June. In Utah, on Friday, the average price of a gallon fell to $ 5.22, down a few cents from the state’s July 1 high of $ 5.26.
And, according to the latest Deseret News poll, Utah will feel the additional cost of making changes to their summer travel plans.
When asked by voters how current gas prices are affecting their travel plans this summer, 47% of respondents said they could make a few trips, 31% had short trips fixed, and 17% could reschedule planned trips. And 11% said they could cancel a flat summer trip.
After reviewing the election results, Phil Dean, a senior economist at the University of Utah’s C&C Gardner Policy Institute, said Utah consumer responses align with behavioral changes that economists expect to see between consumer goods and services prices. Very fast over the last few months.
Dean said: “It is not surprising that Utah residents have a strong influence on the way they think about summer travel plans. “The cost of basic needs has increased, and these are the areas that we feel most. Each time you are at the pump, you get a reminder of where things are.
Dean said the state’s recent consumer sentiment reflects some of the similar concerns shared by Utah in the new Desert News election.
Consumer sentiment in Utah fell to five points between May and June, according to a June data from the Gardner Institute. The lowest standard since its inception in 2020. The country’s economic prospects, which gained a confidence rating of 54.1 in June.
A similar study by the University of Michigan showed a general decline in sentiment among Americans in June. The June National Consumer Index reflects the lowest reading in Michigan’s 70-year history.
“Not surprisingly, consumers of all backgrounds are outraged by high inflation. In fact, no one under the age of 40 has ever seen such a high standard of living, ”Dean said in a statement. “This high inflation includes many items, including $ 5 per gallon of gasoline and higher food prices. Constant high prices will force consumers to change their short-term thinking about today’s purchases and wages and sow seeds of future long-term skepticism.
While some economists speculate that the United States is in the throes of a recession, Dean says he hopes it can be eliminated and there are signs that inflation is declining.
Dean also, with some warnings, about the state’s ability to withstand further recessions, if one were to rise.
“Utah is economically stable,” he said. “We are not an island and we are influenced by national and global economic conditions.
My biggest concern is that the short-term and long-term direction of our state’s economy is to ensure housing affordability and to ensure that we take care of that.
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