Fourteen percent of seniors say that they have skipped meals as a result of inflation, a recent survey shows.
The survey, conducted by PayingForSeniorCare.com in conjunction with market-research platform Pollfish, examined the impact that rising costs are having on Americans 55 and over.
Nearly 1 in 5 (18.7%) of survey respondents say they worry they won’t be able to afford senior living or home care, and just shy of 44% say they are worried they may not be able to cover groceries or household essentials.
As the price of goods and services continue to rise nationwide, the senior-living segment is not immune from these increases. In 2022, the national average cost of assisted living for residents has been $5,601 per month, the PayingForSeniorCare.com report says, citing data from Caring.com. This is up 3.7% since 2019.
However, states like Hawaii, North Dakota and Montana have seen senior-living costs jump upwards of 17%, the report says.
The survey of 1,000 seniors was conducted in October 2022.