The Blubber

Per Fox Business

Food inflation has affected how Americans can afford to buy groceries. Based on a survey that showed 70% of the 1,500 participants now struggle to buy groceries.

The reason why this is critical is that it affects mostly everyday essentials which the average American needs. These include products like eggs, coffee, or cereal which are commonplace in an American diet.

Data from Swiftly show that out of the respondents, 83% of them rely on coupons, rewards apps, or a loyalty program. The survey found that the economic conditions regarding food affordability have impacted the shopping habits of most consumers.

74% of the respondents had to adjust their grocery shopping habits in the previous year. This meant downgrading regular purchases or opting for alternatives to regular purchases.

Only 33% of respondents said that they were increasing their shopping i-store compared to years' past. The survey showed an upward trend in using coupons and rewards when purchasing groceries.

Swiftly: "Simply put, food costs are too high."

The latest consumer price index by the Labor Department showed how grocery, rent, gas, and other goods reached a four-decade-high average of 7.7% on an annual basis in October. However, food at home also increased by 12.4% over the same month year-over-year.

Examples of highly inflated food prices include coffee, up by 14.8%, and cereal, which increased by 16.9%. The reason why coffee is important is that, per the National Coffee Association, 66% of Americans drink coffee daily, even more than tap water, up by a whopping 14% since January 2021.

Swiftly: "Food costs are becoming too expensive for the average American and are only increasing due to record inflation and ongoing economic challenges,"

Out of the different food items, eggs are one of them that rose the most at a massive 43% increase. This means that if the price of eggs was $4 per dozen, it would now cost buyers $5.72 to purchase the same dozen eggs with the inflated food prices.

Resources:

Fox Business

Swiftly

National Coffee Association

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