High inflation has been impacting millions of families and it is pushing more to turn to food banks for help. Animal shelters are also seeing more demand with inflation hitting the cost of pet cost for food too, along with other expenses.
Perhaps many will take comfort in the promise that politicians have vowed to end hunger by 2030.
They must know something that many don't.
It's estimated that there are tens of millions of Americans who are struggling to afford and keep food on their table these days.
Kraft-Heinz increasing prices
Companies like Kraft-Heinz have signaled that they are going to increase prices again but some analysts think that maybe the food cost might peak soon if it hasn't already.
The average working American can't take much more, as they were already widely ill prepared for an economic downturn like this to begin with. There isn't much absorption room for a drastic increase in the cost of living when so many are paycheck to paycheck.
Will grocery bills keep going higher?
Some analysts might say that inflation has peaked and it's going to get better now, while others say we are in for a hard landing sometime next year. No one knows for sure what it is going to look like or how long it might be until things start to look different.
While some are looking to increase prices there are others vowing to keep things the same for now, at least it looks that way for the Costco hot dog and drink combo at least. They might be seeing plenty more in sales too if food costs keep going up elsewhere. If things do go down from here financial strategists have warned that it is likely to be painfully slow.
pics:
pixabay
This is not financial advice
Sources:
https://www.cnet.com/culture/costco-says-hot-dog-drink-combo-will-cost-1-50-forever/
https://www.usatoday.com/story/money/2022/09/22/inflation-daily-life-average-american/10382646002/?gnt-cfr=1
https://www.bloomberg.com/news/articles/2022-08-11/rise-in-producer-food-prices-portend-higher-us-grocery-bills
https://www.foxbusiness.com/economy/inflation-hits-americans-grocery-bills-food-prices-accelerate