The vast majority of United States grocery shoppers are feeling the impacts of skyrocketing price inflation.
By the Numbers
Research from PYMNTS’ study “New Reality Check: The Paycheck-to-Paycheck Report: The Inflation Edition,” created in collaboration with LendingClub, which drew from an August survey of nearly 3,500 U.S. consumers, found 69% have noticed a “very or extremely considerable” increase in the price of food from grocery stores in the past year. An additional 20% noticed a somewhat considerable increase.
Read more: 60% of US Consumers Have Cut Spending Due to Inflation
The Data in Context
This perception is borne out in U.S. government data. Findings from the August Consumer Price Index reported by the U.S. Bureau of Labor Statistics (BLS), revealed that food prices overall increased by 11.4% from a year ago, while prices of food eaten at home (i.e., groceries) posted a 13.5% annual increase. It is worth noting that both figures were substantially higher than the latest 8.1% overall inflation rate.
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See more: CPI Shows Restaurants Underpricing to Slow Shift to Grocery
