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Grocery shopping is where Americans have most noticed persistent inflation, according to a recent survey.
Eighty percent of respondents in the Intuit Credit Karma survey said the grocery store is where they have seen the most noticeable cost increases, compared to 51% when shopping for gasoline, 31% with their utility bills, and 27% each for both housing and dining out.
As a result, 37% of respondents said they had begun shopping more at discount stores. About a quarter of respondents said they could either only afford unhealthy foods, have to sacrifice other necessities to pay for groceries, or need to skip meals due to the cost.
One third of Americans say they spend more than 60% of their monthly income on essentials. While 18% have applied for or considered applying for food stamps, 53% of respondents say they earn too much too qualify for government assistance but still struggle to afford necessities.
Recent inflation data showed that grocery prices dropped for the first time in a year in April.
“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,” Courtney Alev, a Credit Karma consumer financial advocate, said in a statement.
Overall, 44% of Americans in the survey reported feeling financially unstable, a number that goes up to 56% for those with household incomes of less than $50,000.