A recent survey has shed light on the alarming reality faced by many Americans as they struggle to cope with the rising cost of living, according to a new report from Fox Business.
The study, conducted by Qualtrics on behalf of Intuit Credit Karma, reveals that 80% of Americans have experienced a significant increase in grocery expenses over the past few years.
As a result, more than 25% of respondents have been forced to occasionally skip meals to make ends meet.
The survey paints a bleak picture of the financial challenges faced by American households, particularly those in lower-income brackets.
According to Courtney Alev, a consumer financial advocate at Credit Karma, “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.”
DID YOU KNOW:
27% of Americans are SKIPPING MEALS due to Bidenomics.
25% of Americans are buying less-healthier food due to Bidenomics.
21% of Americans are ashamed they can't afford groceries due to Bidenomics.
18% of Americans are considering food stamps due to Bidenomics. pic.twitter.com/VGsmjFBiBl
— Congressman Byron Donalds (@RepDonaldsPress) June 10, 2024
She added that the rise in costs for essentials like food and household staples has placed many families in precarious situations, especially those with lower earnings.
The impact of inflation on grocery prices has been substantial, with data from the Bureau of Labor Statistics showing a 25% increase since the onset of the COVID-19 pandemic in early 2020.
While there was a slight reprieve in April, marking the first decrease in a year, the overall trend remains concerning.
The survey also found that 44% of Americans feel financially unstable, with this sentiment being most prevalent among households earning less than $50,000 annually.
In addition to skipping meals, the rising cost of living has forced many Americans to make difficult choices when it comes to their food purchases.
BIDENOMICS: Homeownership costs are up 26%+ since 2020.
Biden has DESTROYED the American Dream. pic.twitter.com/lM0j3E4Mia
— RNC Research (@RNCResearch) June 11, 2024
The study found that 26% of respondents have resorted to buying unhealthy foods for themselves or their families due to pricing constraints.
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The emotional toll of financial instability is also evident, with 21% of respondents admitting to feeling ashamed about their inability to afford groceries.
