Specifically, more than half of low income houses, according to this data from the Center For Media Research and IRI, are having difficulty buying food. It looks like about 20% of households with incomes greater than $50K are as well.
And what they are buying is changing. the same study reports the following trade offs with regard to their food purchases.
Food is essential for life. It's often one of the last things that people economize on. Because it is kinda important. So how do you suppose gas prices are affecting YOUR busines?
Thanks for reading, and don't forget to write.
16% of >100k income, yes, I should believe that, what are the needed groceries? Fresh pinguin eggs? As a life insurance broker Toronto I also don't like gas prices, because I drive a lot to visit clients, however, I am trying to think positive. Look around the world, what are the prices in Europe? We have prices like in Russia, but their average income is maybe 8x smaller. Not to say about Turkey, where gallon costs more than $8...
ReplyDeleteTake care!
Lorn