Reported food spending has increased to its highest level since the Consumer Food Insights Report began surveying in January 2022, possibly leaving consumers feeling little relief from inflation.
Reflecting this reality, consumers say they are spending 6.9% more on food, an uptick from last month, according to the May survey report. At the same time, the report shows that the rate of grocery stockouts has continued to decrease. This is a positive sign for consumer spending as it means less upward pressure on prices.
The survey-based report out of Purdue University’s Center for Food…
