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Inflation Begins to Niggle American Consumers, Says Rasmussen

May 21, 2013 - 6:00pm

Americans say theyre shelling out more for groceries this year, and its starting to raise concerns about the effect of inflation on their everyday lives.

A Rasmussen Reports poll released Wednesday shows around 83 percent of respondents believe theyre coughing up more cash for groceries this year compared to how much they spent in 2012. Almost three-quarters of them said they anticipated spending even more on groceries in 2014.

In presenting the poll, Scott Rasmussen comments that the Federal Reserve Board has been working tirelessly to maintain the current inflation rate near a 2 percent target, but 40 percent of Americans have little faith in the Feds ability to keep inflation down and interest rates under control.

Rasmussen observes that these figures are consistent with results found in regular surveying since 2009.

More men than women believe they will be spending more for groceries next year. Inflation is especially concerning for those with children at home, according to the poll results.

Not surprisingly, wealthier individuals are less concerned about inflation than lower-income individuals.

The overall Consumer Price Index (CPI) for food and beverages went up in April. The CPI tracks changes in prices paid by consumers for a representative basket of goods and services.

Increases were seen in cereals and bakery products. The CPI for meats, poultry, and fish increased slightly as well.

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