Report: Americans Are SKIPPING MEALS Due To Skyrocketing Grocery Costs
According to a Nationwide Retirement Institute survey, inflation is becoming a growing problem among Americans when it comes to purchasing food.
The new research claims that “nearly a quarter of young people skipped meals or didn’t buy groceries because of high inflation.”
The study goes on to claim:
Over the last 12 months, nearly two in five American households (40%) received food or goods from a food bank (22% for Millennials), and the same amount (17%) stopped buying healthier foods (organic or high-priced healthy foods). Nearly one in five Americans (18%) say they skipped meals or didn’t buy groceries due to high inflation (including 28% of Gen Z and 23% of millennials).
The data is unfortunately not surprising. As grocery prices have climbed more than 13% in the past year.
The data is even more concerning when looking at individual food items. For instance, eggs are 30% more expensive than one year ago, while bread is up 14.7%. Butter is up a whopping 26.6%.
— FoodIngredients1st (@FoodIng1st) October 19, 2022
Not rhetorical … Can an economist or politician explain this to me … 2020 my weekly food = $80. 2022 = $160. That's 100%. Why are you saying food costs up 11%? #foodinflation #inflation #cdnpoli #foodbank @cafreeland @GovCanHealth @jyduclos @mclaudebibeau pic.twitter.com/vGJdjxhCsT
— stan.grizzle.band (@GrizzleBand) October 27, 2022
The economic consequences of this change in buying behavior will be huge, as food inflation also impacts all other sectors of the economy. The first of these is healthcare costs, according to statistics that only 17% of Americans can afford to adjust healthcare costs due to rising inflation.
This rise in food prices means that rough times are expected to hit the American and global economies in the coming months and years.
Over the Covid pandemic, a series of flawed decisions by the Biden administration is behind the crisis. For starters, the Federal Reserve has been printing a huge amount of money out of thin air. With almost 35% of all dollars in circulation were printed during the last 2 years
Covid lockdowns also disrupted the supply chain for food farms and the processing industry. And to make matters worse, the government is paying farmers to destroy their crops, which of course raises the cost of production even more and ultimately the price of the goods.
Another piece in the inflation crisis comes from external factors, such as Biden’s attack on natural gas pipelines and the unavoidable increase in fuel prices. All of which make farmers’ lives a lot more complicated.
Digging further, Americans can’t forget to mention the “mysterious” fires of food facilities all over the US. Over the last year and a half, more than 100 food facilities have burnt to the ground, surely impacting the price of food.
The odds of this happening on its own are very slim. So it’s not unreasonable for Americans to suspect a sabotage pattern. Regardless, people are rightfully demanding answers.
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