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Report: Over 25% of Americans confess to skipping meals because of soaring grocery prices

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Grocery prices in the United States have been steadily increasing, with 80% of Americans reporting a significant rise in costs in recent years. This has forced many people to make difficult choices, with more than a quarter admitting to skipping meals to avoid paying inflated prices at the store. In fact, about one-third of respondents say they are spending over 60% of their monthly income on essential expenses like food, utilities, and rent. Courtney Alev, a consumer financial advocate at Credit Karma, highlighted the severity of the issue, stating that millions of Americans are struggling with food insecurity and lack access to healthy meals.

Since the beginning of the COVID-19 pandemic in 2020, grocery prices have increased by 25%, putting further strain on already struggling households. However, there was a slight glimmer of hope in April when the cost of groceries actually dropped for the first time in a year. Despite this, 44% of Americans still feel financially unstable, especially those making less than $50,000 annually. This financial strain has led to a rise in Americans taking on debt, with 55% of those surveyed admitting to doing so.

The rising cost of living has also impacted the purchasing habits of consumers, with 80% noting that groceries have seen the most significant increase in price. This was followed by increases in expenses for gasoline, utilities, housing, and dining out. In response to escalating prices, 26% of respondents reported buying unhealthy foods for themselves or their families, while 21% expressed feelings of shame due to their inability to afford groceries. These findings underscore the urgent need for financial relief and support for individuals struggling to make ends meet.

In an effort to shed light on the financial challenges facing many Americans, Qualtrics conducted a study on behalf of Intuit Credit Karma. The survey, conducted online from May 7 to May 13, included responses from 2,011 adults across the United States. The results paint a sobering picture of the economic hardships faced by a significant portion of the population, highlighting the urgent need for interventions to address food insecurity and financial instability. With inflation showing early signs of relief for food prices, there is hope that Americans may soon see a reduction in the financial burdens that have been weighing them down. By addressing the root causes of rising costs and providing support to those in need, policymakers and organizations can work towards a more equitable and sustainable future for all.

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