Thousands of people who qualify for food stamps will soon feel the pinch as pandemic funding ends and the holiday season approaches, IRI analysts said. The Supplemental Nutrition Assistance Program (SNAP) is home to many unemployed individuals including others who work minimum wage jobs and struggle to make ends meet.
These issues, in addition to clogged ports, a truck driver shortage, and rising raw materials costs, make shopping for food at the grocery store a costly proposition for many. It is now increasingly difficult for food stamp recipients to stretch their dollars.
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The slowdown has also affected many consumer packaged goods companies, according to IRI. These companies are believed to miss out on spending by SNAP shoppers worth over $3 billion each month. Despite recent increases in food assistance and child tax credits, the purchasing power of those has declined.
