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Rising grocery and food costs top Americans’ cost of living concerns

A McKinsey Institute for Economic Mobility and WK Kellogg Foundation survey of more than 30,000 adults found 60% cite financial security as a key goal, and 90% name groceries and food costs as their top concern.

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Most Americans say rising living costs are the biggest barrier to achieving a better life, according to a survey conducted in mid-April by the McKinsey Institute for Economic Mobility and the WK Kellogg Foundation, reported by the Guardian Economics.

In responses from more than 30,000 adults across generations and economic classes, 60% said greater financial security is what they want in the next three to five years, and 40% described themselves as either getting by but financially vulnerable or struggling to meet basic needs.

Groceries and food costs were the top cost-of-living concern, with 90% of respondents listing them, followed by housing, transportation, and healthcare.

The survey also included interviews in which respondents described financial security as being able to afford basic necessities without worry, and the Guardian Economics noted the findings as another illustration of how cost pressures may be shaping Americans’ expectations for improvement.

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