(John Weingarten, Headline USA) Roughly 18% of Americans say they didn’t buy groceries or have abstained from a meal in the past 12 months because of rising inflation. Another 17 percent of Americans have stopped buying organic foods due to higher costs.
Groceries are just one of many expenses Americans are avoiding. The new poll also found 14% of respondents canceled or postponed plans in the past 12 months to see a healthcare specialist, 10% did not take their prescribed medication and 11% missed their annual physical.
“As the price of health care and basic necessities continue to reach record highs, Americans have been forced to make tough decisions that sacrifice their health and wellbeing,” said Kristi Rodriguez, senior vice president of the Nationwide Retirement Institute, the group responsible for the survey.
Retirement savings have also been hit by out of control inflation. 10% of Americans decreased their retirement plan contributions in the past year, and one fifth of Millenials are considering decreasing their retirement contributions this year.
“While these decisions are understandable and challenging, making short-term tradeoffs may have long-term impacts.” Rodriguez stated.
The poll puts another spotlight on how many Americans are suffering from rising food and healthcare costs. Inflation data from September showed that rising consumer prices and healthcare fees have been key drivers of inflation.
Record government spending by the Biden Administration also likely worsened inflationary pressures, adding an estimated $4.8 trillion to the federal deficit over a ten year period from 2021 – 2031.
The survey was commissioned by Nationwide and conducted by Harris Poll with a sample size of 1,140 American adults.