Price Shock: How Inflation Is Still Squeezing Households in 2026

The inflation headlines may have faded, but the price shock hasn't. The 2026 Census HTOPS survey finds that 75.3% of Americans say prices have increased over the past 12 months. Among those who saw increases, 27.5% describe the impact as "very stressful." And looking ahead, 47.4% are "very concerned" about future price changes.

These aren't pandemic-era numbers. This is 2026 — years after the Fed declared inflation under control. The data tells a different story at the kitchen table.

The Price Perception Gap

The survey asked: "Over the past 12 months, would you say that the prices of the goods and services you usually buy have increased, stayed the same, decreased, or are you not sure?"

- 75.3% — Prices increased

- 16.5% — Prices stayed the same

- 2.9% — Prices decreased

- 5.3% — Not sure

Three-quarters of Americans perceive ongoing price increases. Only 2.9% think prices went down. Even if official CPI inflation has moderated, the cumulative effect of years of elevated prices means Americans are paying significantly more for groceries, rent, gas, and insurance than they were in 2020. The price level didn't go back down — it just stopped rising as fast.

The Stress Factor

Among the 75.3% who saw prices increase, the stress breakdown reveals real pain:

- 27.5% — Very stressful

- 31.4% — Moderately stressful

- 33.0% — A little stressful

- 8.1% — Not at all stressful

Nearly 60% find price increases at least moderately stressful. Only 8.1% shrug it off entirely. The "very stressful" group — more than one in four — represents roughly 54 million Americans who are genuinely struggling with the cost of their daily lives.

Income Makes All the Difference

The income breakdown on price stress is the most telling data in the survey:

"Very stressful" rate by income:

- Under $25K: 43.7%

- $25K-$35K: 40.6%

- $35K-$50K: 34.0%

- $50K-$75K: 29.6%

- $75K-$100K: 22.6%

- $100K-$150K: 16.3%

- $150K+: 11.9%

The gradient is nearly linear and devastating. Americans earning under $25K are almost four times as likely to find price increases very stressful compared to those earning $150K+. This isn't surprising — but the magnitude matters. At 43.7%, nearly half of the lowest-income Americans are under severe financial stress from prices alone.

Future Concern

Beyond current stress, Americans are worried about what's coming:

- 47.4% — Very concerned about future prices

- 28.3% — Somewhat concerned

- 18.3% — A little concerned

- 6.0% — Not at all concerned

Nearly half the country is very concerned about future price changes. By income, the pattern repeats: 59.5% of those under $25K are very concerned, compared to 35.4% of those earning $150K+.

Age also matters. Younger Americans (18-29: 52.0%, 30-44: 51.9%) are more concerned than older Americans (75+: 34.3%), likely reflecting that younger households have less savings buffer and are earlier in their earning trajectory.

The Disconnect

There's a growing gap between macroeconomic indicators and lived experience. GDP grows. Unemployment stays low. The stock market hits highs. But 75.3% of Americans say prices are still going up, 27.5% find it very stressful, and 47.4% are very worried about the future.

This disconnect has political implications. When economists say inflation is "under control" but three-quarters of voters say prices are rising and nearly half are very worried, the economic conversation is happening in two different languages.

The HTOPS data suggests the price shock of 2021-2023 hasn't been absorbed — it's been incorporated into a permanently higher cost of living that continues to squeeze household budgets, especially for those who can least afford it.

*Explore price and spending data on our Prices page and Spending page. See food impact at Food Security.*

Data source: U.S. Census Bureau HTOPS, March 2026.