More than a quarter of Americans are skipping meals to avoid high grocery prices, a new survey says.
A Qualtrics study for Intuit Credit Karma shows 80% of Americans have felt a big rise in grocery costs recently. Over a quarter say they've skipped meals due to these costs. About a third now spend over 60% of their monthly income on essentials like food, utilities, and rent.
"Food insecurity is a major issue in this country," said Courtney Alev, a consumer financial advocate at Credit Karma. Millions don't have enough food or access to healthy options.
In recent years, rising costs for food and essentials have put many American households in tough spots, especially those with low incomes. While there are early signs of food price relief, rising costs for rent and gas are still hurting their financial stability, Alev added.
Grocery prices have jumped 25% since early 2020, says the Bureau of Labor Statistics. But there was a slight drop in April, the first in a year.
Credit Karma’s survey found 44% of Americans feeling financially unstable. This is particularly true for those earning less than $50,000.
Rising living costs have also led more Americans into debt, with 55% reporting increased debt levels.
Most consumers, around 80%, noted the biggest price hikes in groceries, followed by gas, utilities, housing, and dining out.
Additionally, 26% said they've bought unhealthy foods due to high prices. About 21% felt ashamed for not affording groceries.
Qualtrics conducted the study online in the U.S. from May 7 to May 13, surveying 2,011 adults.
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