Inflation Squeeze Drives Record Demand at Strapped Food Banks
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Inflation spiked to 40-year highs in 2022 before cooling somewhat in early 2023, but prices remain painfully high for many Americans
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Food banks and pantries have seen record demand over the past couple years as lower-income households struggle with inflated costs for essentials like food and gas
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Fuel and food prices specifically have soared, with most Consumer Price Index components at least 20% more expensive than pre-pandemic
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Higher interest rates and expired pandemic assistance have further pinched budgets, forcing more reliance on donations
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If inflation stays low and wages keep rising in 2024, there's hope struggling families can regain stable financial footing and require less assistance