Survey Shows Wider Gap in Inflation Impact by Stock Ownership

A survey released this month found that 55 percent of consumers with no stock market ownership cited high prices as the reason for worse personal finances in May. That figure marks the highest level recorded in at least ten years. Consumers in the bottom two-thirds of stock ownership reported similar levels of financial strain.

By comparison, 40 percent of consumers in the top third of stock ownership cited high prices as a concern. The gap between top stockholders and those with no ownership reached 15 percentage points. Excluding 2024, this marks the largest divergence in over a decade.

The survey measured how different groups of consumers experienced price increases. It compared responses across three tiers of stock ownership. Results showed that asset owners faced less reported pressure from rising prices than non-owners. The data covered consumer perceptions of personal finances during the month of May.