RALEIGH, N.C. (WTVD) — Nearly half of consumers are changing where they shop as rising prices continue to strain household budgets, according to a recent survey.<\/p>\n
Mikayla Dalla of Raleigh said she typically shops at a higher-end grocery store, but was picking up items at a store known for deals on Wednesday.<\/p>\n
“It’s definitely expensive,” she said about grocery prices.<\/p>\n
Another Raleigh resident said he has already made cuts. “I don’t know what more I can do to save money — let’s put it that way,” said the shopper, identified only as Bill.<\/p>\n
The survey found that 45% of respondents identified grocery costs as a major source of stress while 65% said they have started buying generic or store-brand items, and 62% reported cutting back on dining out to pay for necessities. Thirty-nine percent expressed concern about affording gas, 35% worried about electricity costs, and 28% said they were stressed about their mortgage or rent over the next few months.<\/p>\n
An economist said the findings align with broader economic trends.<\/p>\n
“We know this from the data — people’s wages are rising slower than inflation, and it’s weighing on their purchasing power,” said Dr. Gerald Cohen, Chief Economist at the Kenan Institute.<\/p>\n
Cohen said he is watching for Friday’s upcoming jobs report. He noted a slowdown in job growth during the winter, followed by improvement in the spring and “healthy numbers in April and May,” before June came in “weaker than expected.”<\/p>\n
He added, “job creation is a key to the economy.”<\/p>\n
The survey also showed a slight improvement in one area, where 44% of respondents said health care costs were a major source of stress, down slightly from February.<\/p>\n
The findings reflect ongoing financial pressure on households as they continue adjusting spending habits in response to rising costs.<\/p>\n