In May 2024, Intuit Credit Karma, known for their financial planning and monitoring tools, conducted a survey to understand how cost and spending has impacted customers and what it means to their bills. Rising food prices, which have surged 25% since the pandemic began, are straining American households. Not to mention the cost of fuel to get to and from where we shop has also increased. The Intuit Credit Karma survey received 2,011 responses which revealed significant impacts to their financial decisions:

• Financial Sacrifices: 28% say they delay paying for necessities like rent to afford groceries, 27% have skipped meals, and 18% considered food assistance programs.
• Shifts in Shopping Habits: 37% now shop at discount grocers, while 26% buy less healthy food due to affordability.

As expected, it all takes an emotional toll. The survey also noted 21% feel ashamed about struggling to buy groceries, and 53% earn too much for government aid but still can’t cover monthly needs.

Food costs in late 2024 have started to improve but remain elevated. An analysis by Yahoo Finance shows a quick trip to the store continues to be expensive with grocery prices up 31% since 2018, including transportation expenses. The financial pressure is especially difficult for low-income households, with 56% of those earning under $50,000 feeling financially unstable. Retailers are cutting prices, but many consumers continue to make sacrifices to cope with rising living costs.

Complete article here: FoodandWine.com