Inflation and a cut in SNAP benefits have led more to seek assistance.
Nobody wants to see a stampede of shoppers at the opening of a food pantry. It is not a good look, but one that is playing out daily across America as inflation continues to tighten its grip on families.
According to Bloomberg News, more people visited a food pantry in Boston in the month of April than at any time in the pantry’s 41 years of existence.
Rising food costs and a cut in government aid has created a perfect storm, one which does not show any signs of letting up. During the pandemic, Congress inserted increases to the Supplemental Nutrition Assistance Program (SNAP), but those benefits stopped in March. According to PYMNTS, the SNAP snap-off took around $90 out of the pocket of beneficiaries. Bloomberg also notes more Americans are struggling to put food on the table now than during the peak of COVID. Around 24.6 million did not have enough to eat in early April vs. April 2021, when that number was 16.7 million.
PYMNTS also notes the impact is going to be felt at discount dollar stores and at places like Walmart. Food stamps account for 10% of dollar store revenue and 20% of supermarket sales in lower-income areas.
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