The study highlights the dire consequences of the 25 percent price rise in food since the pandemic and how people are dealing with it.
Rising costs of food and basic necessities due to inflation are making it difficult for many in the US to get by. Even those with demanding jobs struggle to meet their needs. A study by Qualtrics for Intuit Credit Karma found that about a quarter of Americans are skipping meals to manage rising grocery prices. According to the study, 80 percent of Americans feel their grocery bills have significantly increased.
The study revealed that 27 percent of respondents have skipped meals to keep grocery bills in check, and 32 percent said their basic needs like rent, groceries, and bills take up more than 60 percent of their income. Food inflation is a significant issue, with food prices rising about 25 percent since the pandemic began.
Many people can’t afford everything they need and have turned to alternatives, with about 37 percent shopping at discount stores. Some have resorted to unhealthy food choices due to affordability, making up over a quarter of those surveyed. This highlights how rising prices affect more than just finances. Additionally, 21 percent admitted feeling ashamed of not being able to buy groceries.
Some people are forced to skip other necessities to afford food, rely on food banks, or consider applying for food coupons. Many find their situation particularly difficult because they earn too much for government aid but not enough to get by. 44 percent of those surveyed feel financially unstable, especially households earning below $50k. The study surveyed 2,011 adults.
“Food insecurity is a major issue in this country as millions of Americans don’t have enough food to eat or don’t have access to healthy food,” Courtney Alev, consumer financial advocate at Credit Karma said to Fox News. However, there is a glimmer of hope as food prices saw their first decline in April in years as per the US Department of Labor. This is expected to bring some respite to the alarming situation in the country.
“Over these past few years, a rise in costs for food and household staples have put American households in precarious situations, especially low-earning households who have families to feed. While we’re seeing early signs of inflation relief for food, Americans are still facing rising costs for other necessities such as rent and gasoline, which could be counteracting their journey toward financial stability," Alev noted.
51 percent of people found a rise in gasoline prices, 39 percent found a rise in internet and electricity bills and 27 percent found a rise in housing and dining out. "For those struggling to feed themselves or their families, your local food bank may be able to help. You can visit feedingamerica.org and enter your zip code to find food banks in your community," she added.