Each month, Purdue University’s Center for Food Demand Analysis and Sustainability surveys 1,200 U. S. consumers about their food spending habits, their perspectives on health issues and food policies, inflation, and their overall satisfaction with their diet. The July report includes the effects of a survey conducted from July 15 to 18, 2024.
Overall, customer estimates of food inflation are closer to the actual figures announced through the government, based on July effects. The average food inflation estimated by consumers over the past 12 months was 5. 4% in July, up from 6% in June. Similarly, customers expect food inflation to rise to 3. 2% over the next 12 months, down from June’s estimate of 3. 6%. July’s effects are the lowest since Purdue University began conducting those surveys.
Earlier this month, the United States Bureau of Labor Statistics reported that food rose 2. 2% for the year ended June 2024, which is lower than the consumer price index for all consumers, which rose 3% over the same period.
In the survey, they were asked to rate their satisfaction with their diet, on a scale of 0 to 10. Purdue then grouped the responses into Suffering, Difficulty, and Prosperity for scores between 0-4, 5-6, and 7-10. respectively.
Overall, 67% of consumers were classified as successful, 21% distressed, and 12% suffering, which is higher than the effects of January and April 2024 but lower than the July and October 2023 figures, which were 73% and 68% of consumers. a success consumers, respectively. .
In the July results, Purdue University also asked about your plans to shop at farmers markets and your gardening habits.
Most consumers have to go to a farmers market near them, with 85% of those earning $50,000 per year or more according to the Array report compared to 74% of consumers paying less than $50,000 per year. However, regardless of socioeconomic status, 81% of all shoppers say they plan to buy food at a farmers market this summer.
Consumers who shopped at farmers’ markets mostly visited them once a week, with 32% of consumers earning more than $100,000 per year, 34% earning between $50,000 and $100,000, and 33% of those earning $50,000 or less the suitor, according to the report. Consumers earning more than $100,000 were the most likely to shop at farmers’ markets, among all socioeconomic groups, with 15% reporting spending more than once a week, compared to 2% of those earning less than $50,000 saying the same. thing.
Similarly, Purdue University found a correlation between those who make the most money and those who can grow food. More than one-third (36%) of consumers who earn more than $100,000 a year say they grow some of their food lately. compared to 22% of those earning $50,000 or less.
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