You can look at polls and inflation indexes all you want. But if you want to know how inflation is affecting individual Americans, look at their actual behavior in terms of switching their food-buying habits to cheaper alternatives like Hamburger Helper....
From The NY Times:
"In the 1970s, Hamburger Helper became a staple on American dinner tables as families, strained by inflation and soaring beef prices, looked to turn a pound of ground beef into an entire meal.
These days, those same pressures are why the flavored pasta mix is coming to the rescue again.
While most food companies are seeing declines in consumer demand for their products, sales of Hamburger Helper are up 14.5 percent in the year through August, getting an extra bump from its appearance on an episode of “The Bear” in June, according to the company that owns the brand, Eagle Foods.
And it’s not just Hamburger Helper. Sales of foods commonly purchased by consumers when financial times get tough are on the rise, according to industry analysts. Purchases of rice are up 7.5 percent this year. Distressed shoppers are also buying more cans of tuna, salmon and sardines. Sales of beans and boxes of macaroni and cheese are also strong, based on data from the research firm Circana.
Uncertainty about the economy and higher tariffs levied on goods from a variety of countries have led many consumers to refocus their spending on essentials or items that are good values, while cutting back on extras or unnecessary spending.“Cost-of-living expenses are up. Eating and drinking expenses are up,” said Sally Lyons Wyatt, who advises packaged food companies at Circana. “Consumers are looking for foods that fill them up for the least amount of money.”
In grocery stores, shoppers are increasingly picking up less-expensive store brands. McDonald’s and other restaurant chains are offering more value meals. Sales of sweet treats like ice cream, cookies, and cakes are down, according to Circana.
While inflation has cooled considerably from the peak levels seen in 2022, the price for food consumed at home is still 21 percent higher than it was four years ago. And in August, prices in several food categories, including meats, coffee and many fruits and vegetables jumped considerably, according to the Bureau of Labor Statistics.
But for many families, the soaring price of beef has been a particular pressure point. Severe shortages in the U.S. cattle inventory caused ground beef to jump 13 percent in the past year to hit a record high of $6.63 a pound by August, according to the B.L.S. The number of cattle available for beef is at its lowest level since the 1950s, while consumer demand has remained steady, driving up beef costs."