82% of Americans feel their money does not go as far as it used to be
The loss of purchasing power worries most citizens. More than one-third of Americans are not willing to pay even one more dollar for a cup of coffee.
Eighty-two percent of Americans feel that their money does not go as far as it used to. In that regard, 62% expressed that they feel their purchasing power and income relative to prices are declining due to persistent inflation generated by the economic policies of the Biden-Harris administration.
A study published by Fox Business detailed that 79% of respondents noted that many household products, such as cereal and chips, are decreasing in terms of portion sizes.
Along those lines, the survey also indicated that Americans are considering not buying some foods to cope with the economic situation in the face of Democratic government inaction.
"More than one-third of Americans are not willing to pay even $1 more for a cup of coffee, while 20% of Gen Z shoppers said they would stop buying fruits and vegetables if prices continue to rise," Fox Business explained.
Inflation has been one of the main problems Americans have faced since Joe Biden came to the White House.
According to Fox Business estimates, food prices have risen 21% since the beginning of 2021, while housing costs have increased 21.6%. Meanwhile, the cost of energy has risen 32%.
Americans have had to make tough decisions in the face of the situation. Last week, according to a study by Intuit Credit Karma, 27% of Americans acknowledged having to sacrifice some of their daily meals at times due to rising grocery prices.
Nearly the same proportion (26%) said they had to turn to unhealthy food because it is cheaper.
In addition, farmers have also warned about the economic situation. One of the main problems facing the sector is rising costs.
"In the agricultural sector we are in recession right now. We have seen a lot of job losses. We have negative balance sheets. It's gotten very complicated," Brent Johnson, farmer and president of the Iowa Farm Bureau, said in a conversation with Fox News.
Johnson explained that in the meantime, the international market for U.S.-grown food has slowed almost to a crawl without new trade agreements under the current administration.