Arizonas economy attracts businesses, but cost woes loom over voters

PHOENIX – Businesses continue to move to Arizona, but the lingering impacts of inflation and sustained economic growth loom over voter’s minds as voters head to the polls Tuesday.The Post reported that recent polling indicated that the economy is a top concern among Grand Canyon State voters, with 82% saying it’s a “major factor,” according to the CBS News and YouGov survey.

The Phoenix Metropolitan area saw a shocking 13% year-over-year increase in inflation in August 2022, per the US Bureau of Labor Statistics.While the rate has since fallen down to 2.3%, Arizonans are still paying high prices, as a slowing of inflation does not necessarily mean the prices will go down to pre-pandemic levels.

Common Sense Institute Arizona’s Director of Policy and Research, Glenn Farley, told The Post in an email that inflation will play a “central role” in Arizona and nationwide this election.“But to be clear, this is inflation as consumers/voters see it, and not necessarily as it is defined academically or by the press.Specifically, people are frustrated with the price level, and their frustration isn’t just with consumer prices but housing prices and interest rates as well, neither of which fall into the modern consumer price index.” I believe voters will vote for people and policies that they perceive will help bring prices down, and not just the rate of inflation — including the price of housing, interest rates, etcetera,” Farley added.Farley’s sentiment certainly resonates with some voters, including Marc Hernandez, a 25-year-old rancher in Douglas, Arizona, who told The Post this summer he’s voting for Donald Trump after backing Biden in 2020.

“After graduation, I began working on my family’s cattle ranch and the economy has been really rough on ranchers and farmers these last few years.Inflation has eaten up most of our profits and we had to let some of our ranchers go.

We also have issues with water and power rates going up,” ...