For millions of cash-strapped Americans, a wrenching new tradeoff has emerged courtesy of relentless food inflation: Pay those punishing grocery bills, or skip meals entirely to scrimp and save. And according to a sobering new survey, over a quarter of the country is now choosing the latter.
The study conducted by Credit Karma found that a stunning 27% of U.S. adults have resorted to skipping meals due to skyrocketing grocery costs that have seen prices soar 25% since the start of the pandemic in early 2020. With 80% of respondents feeling the sharp sting of notably higher food bills, hard choices are being made in households across the income spectrum.
But the sacrifices don't stop at forgoing meals. Millions are also being forced to compromise nutrition in the process, with over one-quarter (26%) admitting to purchasing unhealthier, cheaper food options to make ends meet. It's a brutal paradox leaving many Americans unable to afford proper sustenance.
"Food insecurity is a major issue in this country as millions don't have enough to eat or don't have access to healthy food," said Courtney Alev, a consumer financial advocate at Credit Karma. "Over these past few years, a rise in costs for food and household staples have put households in precarious situations, especially low-earning households who have families to feed."
The domino effect of exorbitant grocery tabs is proving far-reaching. The survey found around one-third of respondents now spend over 60% of their monthly income just covering mandatory costs like food, rent and utilities. With such tight budgets, it's perhaps unsurprising that 55% have been forced into taking on more debt to keep up.
Even more troubling, 44% reported feeling outright financially unstable - a number that skyrocketed among households earning under $50,000 annually. For 21%, the stress of being priced out of a basic human necessity like food has sparked feelings of shame and stigma.
While overall inflation has shown signs of cooling in recent months, grocery prices have remained stubbornly elevated compared to other major expense categories like gasoline and dining out according to the survey respondents. An uneven economic reality that continues placing immense strain on America's household finances and well-being.
With the basic act of keeping food on the table now an extreme burden, the Credit Karma data reveals how the trickle-down toll of high food costs has become a full-fledged crisis for large swaths of the population. For too many families, hunger has insidiously transitioned from an abstract policy issue to a harsh newfound reality.
