A new Siena Poll shows that 54% of New Yorkers say the war in Ukraine and the international response to it will lead to long-term economic problems resulting in financial difficulties that Americans will feel for years.

About 32% are more inclined to say that the war will soon end and despite significant short-term impacts, the American economy will be largely unaffected.

In addition, 70% say inflation is having either a very or somewhat serious negative effect on their personal finances.

In light of current economic conditions and the war in Ukraine, 87% are concerned about food prices, 80% are concerned with the cost of gasoline, 76% with home utility costs, 71% with the worth of the American dollar and 68% with the value of their retirement accounts.

In response to price increases due to inflation, 69% say they will buy less in general, 67% will buy less expensive items and 28% plan to dip into savings to pay for everyday expenses.

 “Inflation had gotten New Yorkers’ attention, but now add in war in Ukraine and consumers are very concerned, and many are planning to cut back,” according to SCRI Director Don Levy. “While a third think the war will soon be over and that our finances will not be largely affected, over half believe the war in Ukraine will generate economic shock waves that New Yorkers will face for years to come.”