A new survey from customer data company dunnhumby found that 64% of Americans would struggle to cover an unexpected $400 expense, up seven percentage points since December.
The survey also found that 31% of middle-income households reported not having enough to eat, compared with 19% in December.
The survey showed a significant jump in food insecurity, coming at a time when SNAP participation has fallen by around 5 million people.
Food-at-home costs, which include groceries and ingredients purchased at stores to prepare meals and snacks at home, are 12.4% higher than they were in May 2022.
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"American shoppers are under more financial pressure than at any time since we started tracking them in 2022, and it's building fast," said Jamie Samaha, chief executive officer of dunnhumby. "Nearly two in three would struggle to cover a surprise $400 expense, and more than a third have skipped or cut meals for financial reasons. Both are the highest levels we've recorded, and both rose seven points in just eight months."
The squeeze is changing where people shop, with more shoppers turning to stores that offer consistently low prices.
For example, the survey found that convenience stores made the largest gain of any retail format, with 29% of shoppers using them. Dollar stores have also gained shoppers for four consecutive survey waves, reaching 45%.
Overall, Walmart remains the most-shopped grocery retailer, with 72% of respondents shopping there.
