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Economy

“As food prices rise in June, analysts warn of a ‘tipping point’ for Americans”

“…Food prices rose 3% in June compared to a year ago, according to the latest data from the Bureau of Labor Statistics. After a year of price hikes, consumers continued to see food prices rise, but at a slower rate.

Grocery prices were 5.7% higher in June compared to a year ago, and dining out was 7.7% more expensive. That’s significantly lower than the 13.5% peak inflation for grocery prices last August and the 8.8% peak inflation for dining out…

****Around 47% of low-income households — those earning less than $50,000 a year — said they relied on SNAP benefits in May, up from roughly 40% in February, according to a recent Morning Consult report.*****

…The share of surveyed households that paid their utilities late rose 11% from May to June, and only 27% of respondents paid their utility bills on time and in full, according to Propel’s June survey…”

https://www.marketwatch.com/story/as-food-prices-rise-in-june-analysts-warn-of-a-tipping-point-for-americans-3af44f52

This article is older but I felt it was still important so I linked to it.

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