More American consumers across the country are purchasing cheaper store brands at supermarkets due to rising grocery prices, adding pressure to the big food brands.
The major change in spending habits began in March with the sudden spike in gas prices and the highest level of inflation in 40 years.
Credit card companies report that consumers are trending toward lower-cost items, such as store brands, as they struggle with the effects of inflation.
The soaring costs of food, gas, and rent have made generic store brands more attractive for strained household budgets.
Most of the major food brands have raised their prices since the start of this year to offset rising production costs, leaving generic products, on average, 30 percent less expensive….