Cultural Influences on Inflation in the USA: A Cross‐National Analysis During the 2024 Election Year

Objective We examined how cultural norms (individualism‐collectivism, tightness‐looseness, and honor culture) and attitudes (relational collectivism, group‐oriented collectivism, and individualism) may influence inflation perceptions during the 2024 US presidential race. Methods We deployed quota sampling to acquire about 10 participants for each US state through Prolific. We utilized multi‐level modeling to examine level‐1 (individual level) and level‐2 (state level) cultural effects on inflation perceptions. Results We found that relational collectivism was linked to concerns of the effects of inflation on close others and society and support for a range of policy ideas. Individualism was related to the concern for the country and that the government should have an active role in addressing inflation but was also related to the view that the government should have its power constrained. Group‐oriented collectivism correlated with treating inflation as a personal responsibility and that individuals should have been better prepared for it. Both forms of collectivism were related to the idea that new approaches to combat inflation should be considered. Conclusion Each cultural attitude seems to be linked to different issues pertaining to inflation: concern for others (relational collectivism), balance between government's role and power (individualism), and self‐sufficiency for group maintenance (group‐oriented collectivism).