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Debt consolidation may help consumers using credit to meet increasing food prices
By Oscar Monfort on Apr 14th, 2010
Trying to put food on the table got a little bit more expensive for Americans, according to a recent report.
The Bureau of Labor Statistics said the price of fruits and vegetables increased 4.6 percent in March. This increased accounted for 60 percent of the overall cost for consumer goods and services during the month.
Overall, the consumer price index was up 0.1 percent in March and has increased 2.3 percent over the last 12 months. However, energy prices, often a leader when it comes to draining wallets, stayed steady during the month. Drops in gasoline and natural gas managed to offset increases seen in electricity prices.
Still, the increase in the cost for fruits and vegetables may be alarming for some consumers, who have already had a hard time making ends meet during the recession. Furthermore, a report from the Financial Times notes the price of beef has risen steadily, yet another factor making it difficult for people to feed their families.
While some consumers may try and trim the fat from their budgets to meet increases in prices, others are already scraping the bone to meet their expenses. As a result, they may end up relying on credit cards to make ends meet.
Consumers who have used plastic for their day-to-day expenses may consider debt consolidation, which can help them pay off what they owe at a lower interest rate.
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