While inflation took more time to come for alcohol and cannabis products, it is slowly creeping in.
One in every four retailers across the country recently said they either raised or plan to raise weed prices by more than 10% in the next year.
That is still well below many foods that people consume every day — recent numbers from the Bureau of Labor Statistics reported prices spikes of 47% for eggs and 26% for butter. But it’s still enough to make some seriously rethink how often they buy.
According to a recent survey of 1,450 American adults by cannabis research firm CBD Oracle, 54% would buy less cannabis if inflation keeps getting worse.
Inflation May Push Some To Light Up Less
Out of those 54%, 41.9% said they would buy somewhat less while 12.3% are prepared to buy a lot less. 83% of those who use cannabis said they would be willing to pay $30 for an eighth of an ounce (3.5 grams) but only 57% would pay $40.
At the time the survey was taken, 42% said they were consuming the same amount of cannabis as last year. A further 35% even said they bought a little more or a lot more.
Out of those who bought less, 27.9% did so because of inflation while 29% were looking to change health or lifestyle habits.
Naturally, all of this applies only to states where marijuana use is presently legal.
To Read The Rest Of This Article By Veronika Bondarenko on The Street
Published: September 21, 2022
Founder & Interim Editor of L.A. Cannabis News