Analysis: Over 3.5 million lose SNAP food benefits as federal cuts take effect amid rising costs
By
Lorie Konish
The bagel they save for the regulars. Don't skim, savour.
Summary
A new analysis reveals that at least 3.5 million people (nearly 9% of beneficiaries) have lost access to Supplemental Nutrition Assistance Program (SNAP) food benefits as cuts from Trump's 'big beautiful bill' take effect. This comes amid rising grocery and gas costs, increasing inflation expectations according to the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters, and a "remarkable increase in food insecurity" reported by the Federal Reserve Bank of New York. Americans are facing the dual pressures of higher costs and reduced federal food assistance.
Key quotes
· 3 pulledThere has been a 'remarkable increase in food insecurity,' the Federal Reserve Bank of New York said in a recent blog post
Consumers are facing price pressures as the costs of groceries and gas rise
The pace of inflation is expected to increase in the coming months, according to the Survey of Professional Forecasters
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