BOCA RATON, Fla., March 07, 2025 (GLOBE NEWSWIRE) — With inflation creeping back up and wages struggling to keep pace, more than 50% of Hispanic households in Florida feel negatively about the state of the economy, according to a new poll from the Business and Economics Polling Initiative at Florida Atlantic University.
More than 61% of Hispanics are very concerned about inflation in 2025, with 31% somewhat concerned and less than 8% not concerned.
“These findings highlight the significant financial strain inflation continues to place on Hispanic households,” said Monica Escaleras, Ph.D. director of BEPI in FAU’s College of Business. “With the vast majority expressing concern, it underscores the urgent need for economic policies that address rising costs and promote financial stability.”
The majority have negative feelings about the future of the economy
Only 25% had a favorable view of the current state of the U.S. economy. Of those surveyed, 51% had a negative outlook and only 24% had a neutral view. Looking ahead to the future state of the U.S. economy, only 38% felt optimistic. Meanwhile, 24% were neutral and 38% were negative.
Level of trust in administration’s economic policies
The survey found that 48% trusted the current administration to handle the nation’s economic issues, while 27% were unsure and 25% had no trust in the current administration.
Regarding whether the administration’s current policies effectively address inflation, only 34% of Hispanics felt the policies were effective, 13% were unsure, and 53% felt they were ineffective.
More than 60% of the respondents said that tariffs hurt the economy because they raise prices for consumers and businesses. Around 22% said tariffs help the economy by protecting American jobs and industries.
“Opinions on tariffs remain divided, with many concerned about rising costs while others see potential benefits for American industries,” Escaleras said. “These perspectives reflect the ongoing debate about how trade policies impact businesses, jobs and consumers across the economy.”
Hispanics’ coping strategies against inflation
According to the survey, 42% are cutting back on discretionary spending; 24% said they were buying cheaper or generic brands; and 13% said they were working secondary jobs to cope with inflation.
“As inflation continues to strain household budgets, many Hispanics in Florida are adapting by cutting discretionary spending, switching to cheaper brands, and even taking on second jobs,” Escaleras said. “While these strategies help families stay afloat, they also signal broader economic shifts – reduced consumer spending can slow economic growth, and reliance on multiple jobs can lead to burnout and lower productivity.”
Methodology
The survey was administered using an online data collection using REP DATA. There were 462 respondents sampled between Feb. 7-12, with a margin of error of +/- 4.51 percentage points. The data was weighted based on gender, age and education, and the results are available here.
CONTACT: Amber Bonefont Florida Atlantic University College of Business 5617579188 abonefont@fau.edu
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