Despite recent trends of cooling inflation, grocery prices in the second quarter of 2023 remained a concern among U.S. households—especially for families with children—according to a report by data consulting company Dunnhumby, suggesting American shoppers remain worried about surging grocery bills even as price increases ease.
Consumers perceived the inflation rate for food consumed at home to be 22.6% as of April, according to Dunnhumby’s study, which was based on survey data gathered from over 8,000 grocery shoppers nationwide.
That’s more than triple the 7.1% year-over-year inflation rate for food at home estimated by the Bureau of Labor Statistics in April—since then, grocery inflation has fallen to 4.7% year-over-year as of June, down from 13.5% as of August 2022.
Some 61.8% of American households acknowledged having difficulty covering an unexpected expense of $400, up 1.3% from November 2022, according to the report.
However, families with children told Dunnhumby they have been even more hard hit over the past year: 72% would not be able to pay the $400, and 36% of them have either skipped or reduced the size of their meals for financial reasons.
Some 40% of shoppers now browse multiple grocery stores in search of products with the best value, up 9% since last year, and 52% of shoppers responded it was “extremely important” that vendors provided them with relevant coupons, a 6% increase since last year.
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Source: www.forbes.com
ENB
Sandstone Group
