MIAMI (CBSMiami) – As prices continue to rise, some people are cutting back on what they purchase – except when it comes to booze.
DrugAbuse.com, a leading provider of substance abuse treatment resources, carried out a survey of 3,818 Americans and discovered an interesting response to ‘intoxiflation’. The survey found that almost 2 in 3 (64%) Floridians will continue buying the same amount of alcohol they usually would throughout the holiday season, regardless of inflated alcohol costs.READ MORE: Remembering NYPD Officer Jason Rivera: Wake Held For 22-Year-Old Killed In Line Of Duty In Harlem
This compares to a national average of 59%.
People in Vermont were most willing to spend money on alcohol – 90% said they will continue buying the same amount despite inflated costs. On the opposite side, only about 40% in New Mexico said they would do so.
The survey also found more than a third of Americans (37%) consider alcohol an essential purchase.READ MORE: Health Officials Tracking New 'Stealth' Omicron Variant Spreading In Europe, Detected In US
Additionally, more than 1 in 3 people think the government should reduce alcohol taxes if inflation, currently at its highest level since the 1920s, increases in order to keep costs low.
Thirty-two percent of drinkers will simply switch to cheaper, less well-known brands if prices go above their threshold.
According to the U.S. Bureau of Labor Statistics. prices for alcoholic beverages were a startling 565.88% higher in 2021 versus 1952. Between these years (1952 to 2021), alcohol experienced an average inflation rate of 2.79% each year.
The survey by DrugAbuse.com also asked people what rate alcohol inflation would have to reach in order for them to cut down on their purchases. Overall, the average drinker said that an increase of 8.79% would make them buy less booze.MORE NEWS: The Squeeze: Fed Set To Raise Interest Rates In March
When asked which holidays they would rather spend sober, if they had to make that choice, 41% said Christmas Day, followed by 29% who said Thanksgiving. Just 12% said New Year’s Eve.