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Economy

“54% of young Americans say food costs are the biggest strain on their finances”

“Younger Americans are feeling the pinch from inflation, with 54% saying that rising food costs have hit them the hardest.

The findings are part of a recent CNBC/Generation Lab survey that polled 1,033 people between the ages of 18 and 34. When asked where in their budget inflation affected them the most, respondents choose food by a significant margin:

  • Food: 54%
  • Rent: 22%
  • Discretionary spending: 10%
  • Health care: 6%
  • Utilities: 5%

Overall inflation has cooled off since its 9.1% year-over-year peak in June 2022, but it continues to rise at a 3.5% year-over-year pace as of March, according to the most recent data available from the consumer price index, which tracks the price of goods and services over time…”

https://www.cnbc.com/2024/05/08/young-americans-say-food-price-inflation-affects-them-most.html

Now would be a great time to start a garden. Even a small one produces a surprising amount of food. It’s the best way to fight inflation of the food supply.

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