Article Image
IPFS News Link • Inflation

Meat Eaters Hit Hardest as Inflation Sweeps U.S. Grocery Aisles

• Yahoo Finance

About one in three U.S. adults say they're spending more on groceries than they were at the start of 2021, according to a Morning Consult survey of 2,200 U.S. adults conducted May 17 to 19 for Bloomberg News. Red meat was the ingredient cited most often for its higher prices, with chicken right behind.

Food inflation has been inching up for months, driven by soaring commodity costs, costlier transportation and challenges securing labor. Rising demand for meat, from home cooks as well as from the booming fast-food industry, has buoyed prices, too.

"We've got these pockets of inflation without having corresponding wage growth, and that's going to put consumers in a really tough spot," Morning Consult economist John Leer said in an interview.


https://www.wealthbattle.com