Eight-four percent of 1,000 American adults who participated in a recent study say they are paying more for groceries than a year ago. That’s up eight points from 76 percent last month. Only 10 percent say they are not paying more.
70 percent expect the amount they spend for groceries to go up even more over the next year. Only 2 percent think their grocery bills will be lower a year from now, while one-in-four (25 percent) expect to be spending about the same amount.
76 percent of Americans are at least somewhat concerned about inflation, including 35 percent who are very concerned. Just 21 percent are not concerned about inflation, with 4 percent who are not at all concerned.
37 percent are now at least somewhat confident that the Federal Reserve Board will be able to keep inflation under control and interest rates down. That’s down from 45 percent in January, the highest level of confidence since November 2012.