Dwindling economy affects consumer habits
Six out of 10 consumers say they had to cut back on the quantity or quality of food they buy due to increasing prices, according to the 2008 Hormel Hunger Survey conducted by Hormel Foods Corporation.
Reports state that 67% of consumers surveyed stated food prices have increased a lot since last year, and 61% say that corn-based ethanol is at least partly responsible for higher food prices.
Hunger in the US
"Hunger in the US is a serious issue. We hope this research will elevate the issue and prompt discussions about how we can all work together to help feed America’s families," said Jeffrey M. Ettinger, chairman, president and CEO of Hormel Foods.
Buying less expensive meat
Over half of the 800 adults that were interviewed, however, are curbing costs by using coupons, buying more generic or store brands, eating at home more often, buying less expensive cuts of meat and buying more of less-expensive staples such as rice and potatoes.
"Even as our country strives for energy independence, we hope our policy-makers remember that our families come first. The more food we devote to making fuel, the more difficult it is going to be to feed people. Our first priority should be putting quality, affordable food on the table," said Ettinger.
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