North Carolina Consumer Sentiment Improving as Concerns About Prices Ease (Except for Eggs)

Inflation is still on the minds of North Carolinians interviewed for the latest High Point University Poll. North Carolinians were asked to consider how the prices they are currently paying for products compared to last year.

A large majority (68%) said they are paying a much higher price for eggs. Less than half of the poll respondents said they are paying a much higher price for meat (40%), electricity for their houses (34%), fruits and vegetables (29%), milk (28%), gas for their cars (26%), bread (26%), natural gas for their houses (24%), electronics (23%), clothing (23%), water (18%) and toys (16%).

A month ago, North Carolinians were asked to consider how the prices they are currently paying for those same products compared to last year. That poll included somewhat different observations. A majority of respondents (54%) said they were paying a much higher price for eggs, which was lower than the percentage of North Carolinians saying that now. Less than half of the poll respondents said then that they were paying a much higher price for the following products: meat (49%), electricity for their houses (39%), fruits and vegetables (38%), gas for their cars (35%), milk (35%), bread (34%), electronics (33%), clothing (31%), natural gas for their houses (29%), water (28%) and toys (25%).

“There are plenty of North Carolinians who say they still feel the squeeze of higher prices,” said Dr. Martin Kifer, chair and professor of political science at HPU’s Witcher School of Humanities and Behavioral Sciences. “Overall, the percentage of people saying they are paying much higher prices for many products is down somewhat, but more North Carolinians than ever are reporting much higher prices for eggs.”

About two in five North Carolina residents (41%) responding to the survey said inflation concerns have affected a lot of their spending decisions in 2025. About the same proportion (40%) said inflation concerns have affected some of their spending decisions, and 17% said inflation concerns haven’t affected them much at all.

About two in five of North Carolina residents (39%) said the inflation over the past few months had been worse than they expected. Just about the same fraction (39%) said inflation has been about as they expected, and only 17% said inflation has not been as bad as expected.

Similarly, 41% said they believe that 12 months from now inflation will be higher than now. About a third (30%) said they expected inflation to be about the same as now, and one in five (21%) said they expected inflation will be lower.

Consumer Sentiment Is Not High, but May Be Increasing Overall

According to this latest poll, the Consumer Sentiment Index shows that North Carolinians’ general opinion about the economy and their personal finances has increased somewhat overall in recent months and was calculated to be 73.5 for February 2025. That number is similar to January 2025, when it was 78.1, and November 2024, when it was 73.8. The index appears to have been generally increasing since May 2023, when it was 62.5.

The HPU Poll’s measure of consumer sentiment is an index that comprises five separate questions asking respondents about different aspects of how they view the U.S. economy and their own personal finances.

“The recent moderate decline in consumer sentiment may be attributable to apprehension about the economic effects of higher import tariffs and government spending cuts,” said Dr. Gerald Fox, chair and associate professor of economics at HPU’s Earl N. Phillips School of Business. “But the long-run pattern of consumer expectations will depend on whether inflation and unemployment will be low.”

North Carolina Residents – Prices Currently Paying (February 2025)

Thinking about the prices you are currently paying for products on this list compared to last year, would you say prices are much higher, somewhat higher, about the same as last year, somewhat lower or much lower? [Items presented in a random order]

North Carolina Residents – Spending Concerns (February 2025)

How much have concerns about inflation affected major spending decisions you have made in the new year?

A lot – 41%

Some – 40%

Not much at all – 17%

Unsure – 3%

North Carolina Residents – Recent Inflation (February 2025)

Generally speaking, has the inflation we have seen over the past few months been worse than you expected, not as bad as you expected, or about what you expected?

Worse than expected – 39%

Not as bad as expected – 17%

About as expected – 39%

Unsure – 6%

North Carolina Residents – Inflation Expectations (February 2025)

Thinking about the future, do you believe inflation will be higher, lower or about the same 12 months from now?

Higher – 41%

About the same as now – 30%

Lower – 21%

Unsure – 7%

February 2025 Consumer Sentiment Index Results:

We are interested in how people are getting along financially these days. Would you say that you (and your family living there) are better off or worse off financially than you were a year ago?

Better off – 22%
Worse off – 34%
Same/Neither – 41%
Unsure – 3%

Now looking ahead, do you think that a year from now you (and your family living there) will be better off financially, or worse off, or just about the same as now.

Better off – 36%
Worse off – 23%
About the same – 33%
Unsure – 9%

Now turning to business conditions in the country as a whole, do you think that during the next 12 months we’ll have good times financially, or bad times, or what?

Good times – 24%
Bad times – 27%
Neither – 23%
Good times with qualifications – 12%
Bad times with qualifications – 8%
Unsure – 6%

Looking ahead, which would you say is more likely, that in the country as a whole we’ll have continuous good times during the next five years or so, or that we have periods of widespread unemployment or depression, or what?

Widespread unemployment or depression – 25%
Continuous good times – 22%
Neither – 10%

Mix of both – 36%
Unsure – 7%

About the big things people buy for their homes, such as furniture, a refrigerator, stove, television, and things like that. Generally speaking, do you think now is a good time or bad time for people to buy major household items?

Good time – 23%
Bad time – 34%
Neither good time nor bad time – 34%
Unsure – 9%

HPU Poll 110 was fielded by the High Point University Survey Research Center on Feb. 23 through March 1 as an online survey using a panel of respondents recruited and maintained by Dynata. Dynata sent invitations to its panel of North Carolina respondents and the SRC collected 1,001 responses (an all-adults sample) on its Qualtrics platform.

The HPU Poll reports methodological details in accordance with the standards set out by AAPOR’s Transparency Initiative, and the HPU Survey Research Center is a Charter Member of the Initiative.

Dr. Martin Kifer, chair and professor of political science, serves as the director of the HPU Poll.