A new Pew Research report on emerging economies from Pew Research finds that almost a quarter of Americans have trouble affording food. “This reported level of deprivation is closer to that in Indonesia or Greece rather than Britain or Canada,” the report says.
Why is this the case?
According to numbers from the USDA, the moderate costs to healthfully feed a family of four a week costs $191, including meals and snacks, up 38% from 10 years ago. Food inflation was about 5% last year after a drought led to an increase in corn, wheat, and soybean prices, which in turned raised the price of chicken, pork, and beef. With continued unpredictability in weather affecting crops and higher demand from a growing population, it’s likely that food prices will only continue to rise.
But the US has the worst income inequality among developed economies; 15% of the population using food stamps. As economist, Joseph Stiglitz has argued, the income inequality in the US is not only holding back a recovery but also setting up the nation for future economic instability.
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