Americans inflate the impact of higher prices

American consumers believe that food inflation is 5.1 percent higher than it is in reality, according to new research from dunnhumby. “Consumers are responding by changing their shopping behavior, and perhaps most troublingly, nearly a third are cutting back or completing eliminating some meals,” said Grant Steadman, president for North America at dunnhumby. “Retailers and manufacturers need to ensure that they are putting their customers first when they are making decisions about how to respond to persistent inflationary cost pressures.”