Neil Roets, the CEO of Debt Rescue, said that when 12% of households are
reporting highest level of hunger in 16 years, it is not only at food-security
problem.
“We are seeing the consequences of severe and sustained pressure on
household finances. We at Debt Rescue have consistently warned that the
real measure of financial pressure is not simply whether consumers can
continue paying their accounts. It is what they are having to sacrifice to do
so. Food is one of the clearest indicators,” Roets said.
“When families move to smaller pack sizes, cheaper alternatives and less
varied diets simply to make their monthly income stretch further, this tells
us that household budgets have very little resilience left. Consumers can
cut entertainment, postpone purchases and reduce discretionary
spending, but there comes a point where there is simply nothing
meaningful left to cut,” Roets added.
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