U.S. Survey Finds 67% Hit by Meat Costs as 65% Demand Relief Now
Updated
Updated · CFO Dive · Jun 29
U.S. Survey Finds 67% Hit by Meat Costs as 65% Demand Relief Now
1 articles · Updated · CFO Dive · Jun 29
Summary
1,100 registered voters surveyed for The Kitchen Table Project described a broad U.S. cost-of-living squeeze, with nearly half of households earning above $100,000 also reporting significant pressure.
67% singled out meat and poultry as especially unaffordable, and respondents blamed rising prices over stagnant wages by nearly 4 to 1 for the crisis.
65% said families need immediate cost relief, while the survey found bipartisan support for government action and broad blame on corporations, tariffs and trade restrictions for higher prices.
May inflation data underscored that strain: the PCE index rose 0.4% on the month and 4.1% annually, the fastest pace in three years and well above the Fed's 2% target.
Gasoline has eased to $3.86 a gallon from $4.39 after U.S.-Iran ceasefire talks, lifting June consumer sentiment 10%, but one-year inflation expectations still sit at 4.6%.