80% of Americans say food costs have risen significantly since the pandemic began, survey finds

The rate of increase in food prices has slowed in recent months, according to the latest government inflation data.

However, shoppers still report feeling burdened by the prices they’re seeing in grocery aisles. To that point, over the past few years, 80% of Americans say they’ve felt a noticeable increase in the cost of groceries, Intuit Credit Karma reported last month.

Since the start of the pandemic, food prices have increased by 25%, the report also said.

Some consumers have had to sacrifice necessities to afford food, the personal finance company found.

This includes 28% who sacrificed other needs like rent or bills to pay for groceries, and 27% who occasionally skipped meals. Additionally, 18% have either applied for or considered applying for food stamps, while 15% rely on or have considered applying for food banks.

However, 53% indicated that they earn enough to qualify for food stamps or other government assistance, but still struggle to pay for necessities.

While most consumers report noticing higher food costs, 51% have also seen an increase in the price of gasoline; 39% said other bills such as cable, electricity and internet have increased; 27% said housing costs have increased; and another 27% said dining costs have increased.

The survey was conducted online by Qualtrics on behalf of Intuit Credit Karma, May 7-13 among 2,011 adults.

The high cost of groceries has caught the attention of Congress.

“Food prices skyrocketed during the pandemic, and in many cases they have continued to rise even after the pandemic is over,” Sen. Elizabeth Warren, D-Mass., said at a recent Senate hearing.

Some retailers have moved to cut grocery prices in response to consumer price fatigue. Target announced plans to cut prices on about 5,000 items including meat, dairy, fruits and vegetables. Amazon Fresh plans to cut prices on about 4,000 items online and in stores. Walmart has also increased its “returns” on groceries and sales on other items.

For those who are really struggling to cover food costs, finding a local food bank through FeedingAmerica.org can help, according to Credit Karma. Â

For those who have the flexibility to reassess their spending, trying new strategies can also help.

“It’s a good opportunity to create smart shopping habits,” said Trae Bodge, a smart shopping expert at TrueTrae.com.

While food inflation is on the decline, some categories still saw significant year-over-year price increases since May. This includes juices and drinks, frankfurters and bacon.

Avoiding categories where food costs are on the rise can help keep food costs down, experts say.

Where possible, consumers can change their shopping habits – eating at home rather than dining out or buying chicken instead of beef, for example – to limit the effects of rising costs, said Mark Hamrick, senior economic analyst at Bankrate. .

“There are a number of opportunities to make choices and substitute at lower prices and get better value,” Hamrick said.

More from Personal Finance:
Treasury Department Announces New Series I Bond Rate
Money savers still have a chance to beat inflation
Here’s what’s wrong with TikTok’s viral savings challenges

Visiting different retailers – in person and online – can help consumers find the best value available and take advantage of sales.

If a store has a loyalty program, Bodge recommends signing up for it to make sure purchases are eligible for discounts or rewards. Switching to store or generic brands can also provide significant savings. Additionally, buying products in bulk can help save up to 40%, she said.

Several websites and apps help make shopping more efficient.

Coupon sites like CouponCabin can offer discounts for ordering groceries online. Flashfood may provide alerts for offers on overstocked food items. Martie also has deals on deeply discounted items.

“If you combine all these things, you can save significantly on your groceries,” Bodge said.

Paying at the checkout counter can also lead to more savings, especially with cash back rewards through credit cards, she said.

To use those benefits effectively, it’s important to maintain a balance that you can pay off each month. Research from the Urban Institute shows that Americans may be saddled with debt as they turn to credit cards, buy now pay later programs and grocery loans.