A recent survey of 1,000 American adults showed 72 percent expect to pay more for groceries a year from now.
The poll also showed 75 percent are at least somewhat concerned about inflation, with 38 percent who are Very Concerned. Twenty percent don’t share that concern, and that includes just 4 percent who are Not At All Concerned.
Concern about inflation has generally run in the mid-to upper 70s for the last three years, but the number who are Very Concerned is down considerably from past years.
Still, 72 percent expect the amount they spend for groceries to be higher a year from now. That’s up two points from March and the highest finding since May of last year. Only 3 percent think their grocery bills will be lower a year from now, while 21 percent expect to be spending about the same amount at the grocery store.
Eighty-three percent say they are now paying more for groceries compared to a year ago, down one point from last month’s recent high. Just 9 percent say they are not paying more.
Only 41 percent are now at least somewhat confident that the Federal Reserve Board will be able to keep inflation under control and interest rates down, although that’s up from 37 percent last month. But half (49 percent) of Americans continue to lack confidence in the Fed. The new findings include 11 percent who are Very Confident in the Fed’s ability to control inflation and interest rates and 16 percent who are Not At All Confident.