Survey: Rising Costs Straining Connecticut Households 

Rising costs and growing financial pressures are straining Connecticut households, according to a new survey released today, with half of residents reporting they are worse off financially than a year ago. 

The CBIA Foundation for Economic Growth & Opportunity’s 2026 Summer/Fall Connecticut Consumer Outlook examines resident views on affordability, economic conditions, and household finances. 

Nearly nine in 10 residents say household expenses, including groceries, gasoline, and electricity, have increased in the last year. 

“Consumer sentiment echoes what we have been hearing from businesses—the cost of living is putting increased pressure on Connecticut residents,” said CBIA president and CEO Chris DiPentima, the foundation’s president.  

The foundation partnered with the University of New Hampshire Survey Center’s States of Opinion Project for the first time to produce the Connecticut Consumer Outlook. 

The project was made possible through the support of Thomaston Savings Bank. 

Key Findings 

• 50% of Connecticut residents say they are worse off financially than they were a year ago, a six-point jump from November 202587% say cost of living has risen in the past 12 months 
• Nearly half (48%) say paying medical expenses is difficult, and 59% report costs increased during the past year 
• Only 10% of residents expect good economic conditions in the state over the next year, and 51% say a recession will hit the state within the next 12 months. 
• 50% say Connecticut’s labor shortage is a serious problem 
• Just 22% approve of the Connecticut legislature’s handling of the economy and job creation 

While views of the national economy are split along partisan lines, views of the Connecticut economy are considerably less polarized, with most expecting tough times ahead. 

Many residents believe state policymakers have not done enough to address affordability concerns. 

“When families struggle with affordability, employers struggle to attract and retain talent, and communities feel the impact,” DiPentima said.  

“Addressing affordability and creating economic opportunity must remain a top priority if we want to build a stronger, more competitive future.” 

Economic Foundation

Thomaston Savings Bank president and CEO Stephen Lewis said the findings underscore the importance of maintaining a strong economic foundation for Connecticut families and businesses.  

“As a mutual community bank, our success has always been tied to the success of the people, businesses, and communities we serve. 

“The findings in this report highlight the importance of a strong Connecticut economy, the current concerns that need to be addressed, and the need for organizations to remain committed to the long-term financial well-being of their communities.” 

Taken together, the findings tell a consistent story. Connecticut residents are feeling sustained financial pressure, regardless of income or political affiliation.

“Connecticut residents are really worried about how much things cost, regardless of how much money they make or what party they belong to, and most people think tariffs are going to only make prices go higher without having the positive impact on manufacturing some hope they will,” said UNH Survey Center director Andrew Smith. 

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The CBIA Foundation for Economic Growth & Opportunity is a 501(c)(3) organization created to address the evolving needs of Connecticut’s economy. The foundation’s primary goal is charting a course for sustained economic growth that drives further predictability and greater opportunity for all Connecticut residents.

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CBIA is Connecticut’s largest business organization, with thousands of member companies, small and large, representing a diverse range of industries from every part of the state. For more information, please contact Scott Beaulieu (860.244.1929).

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The UNH Survey Center is an independent, non-partisan academic survey research organization and division of the UNH College of Liberal Arts. The Survey Center conducts web, mail, telephone, and intercept surveys, as well as focus groups and other qualitative research for university researchers, government agencies, public non-profit organizations, private businesses and media clients. Their senior staff have over 50 years experience in designing and conducting custom research on a broad range of political, social, health care, and other public policy issues. 

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Established over 150 years ago in 1874, Thomaston Savings Bank is a state-chartered mutual savings bank, owned by its depositors, not shareholders. Headquartered in Thomaston, the bank operates 16 full-service branches throughout Western and Central Connecticut. As a full-service community bank, Thomaston Savings Bank is dedicated to empowering its clients for financial success by providing financial solutions and resources tailored to the specific needs of its neighbors. To learn more about Thomaston Savings Bank and the services it offers, visit ThomastonSB.com