Grocery prices have soared in recent years, rising 24 percent since 2020, with another 3 percent increase predicted in 2025. To meet these rising costs, more people are relying on credit cards, and 1 in 4 people are taking on credit card debt. Urban researchers have found that as food prices have gone up, so too have credit card delinquencies.
Learn how inflation in food prices has contributed to credit card delinquencies in your state and county by exploring Urban’s data tool. Our tool shows where credit card delinquencies have increased between February 2022 and August 2024 and how many consumers are past-due on their credit card bills now.
Relying on credit for basic living expenses and missing credit card payments can put stress on families’ finances. Any policy changes that lead to price increases, employment instability, and other financial shocks in the months to come could push even more families into distress.
The Upward Mobility Initiative’s newest toolkit offers practical guidance for creating real, community-driven change to increase upward mobility. The toolkit is anchored in six key principles: equity, systems change, collaboration, community ownership, data-driven decisions, and continuous learning.
