Hormel Foods Corp., which released its third annual Hormel Hunger Survey, said that consumers have cut back on the quantity or quality of the food they buy because of the higher prices.
Most Americans (67 percent) say that food prices have increased a lot since last year, and six out of 10 Americans (61 percent) say that corn-based ethanol is at least partly responsible for higher food prices, the survey reported.
The survey said that two-thirds of Americans say they are losing economic ground as inflation outstrips any increase in income. In addition, almost half (47 percent) of Americans are having more trouble paying their bills this year than last year, and more than four out of five Americans (84 percent) are concerned about rising food prices. Four out of 10 are very concerned.
“Hunger in the
Source: Hormel Foods Corp.