US, 2 out of 10 People Hoarding...Double Trouble with Soaring Egg Prices

Trump's Pledge to End Inflation Fades
CreditCards.com Analyzes U.S. Household Spending Patterns in February Report
"Impacted by Tariffs"

Exterior view of Walmart, a large American supermarket located in Englewood, Colorado. / AP·Yonhap AP Yonhap News

'22%'

Two out of ten American consumers reported that they have engaged in hoarding since last November, when the U.S. presidential election took place. This is due to growing inflation concerns among consumers following statements by U.S. President Donald Trump, who declared a 'tariff war' against the world, including Mexico and China, the top two export destinations for the U.S. Consumers are feeling the strain as the soaring egg prices caused by an infectious disease crisis add to the burden.

CreditCards.com revealed this in a February report released on the 18th (local time), which surveyed the consumption patterns of American consumers since President Trump's election last November. The survey was conducted among 2,000 U.S. residents.

According to the report, 22% of respondents said they are already hoarding. Another 20% said they have not hoarded yet but plan to do so. The remaining 52% said they have not hoarded and do not plan to in the future. Five percent were unsure.

22% responded that Trump's tariff policy had a 'significant impact' on purchasing large items. Data from CreditCard.com

CreditCards.com pointed out that this indicates growing consumer anxiety over rising prices and economic uncertainty. Generally, tariffs tend to cause inflation by increasing the prices of imported goods, forcing companies to either absorb the costs or pass them on to consumers through price hikes.

The psychology behind hoarding is driven by the desire to purchase items before prices rise further. When asked about the impact of former President Trump's tariff plans on major consumer goods purchases, 22% of respondents said they were "greatly affected," while 30% said they were "somewhat affected."

The items most commonly hoarded by respondents include emergency food supplies, toilet paper, medical supplies, cosmetics, hygiene products, interior goods, furniture, home appliances, and water purification systems?items that can be stored for relatively long periods. In fact, on Reddit, the largest online community in the U.S., many posts share "tips" on what items to stockpile in preparation for tariffs on Chinese goods.

The top items most hoarded included emergency food supplies, toilet paper, medical supplies, cosmetics, hygiene products, interior goods, furniture, home appliances, and water purification systems.

According to the report, one in five American consumers (20%) described their recent spending patterns as "Doom Spending." This term refers to impulsive or excessive spending driven by concerns over economic instability, geopolitical tensions, or financial crises. Twenty-three percent of Americans expect their credit card debt to increase this year.

John Egan, a credit card, insurance, and personal finance expert at CreditCards.com, stated, "S&P Global researchers estimate that if the new tariffs imposed by former President Trump remain in place until 2025, U.S. consumer prices could rise by 0.5% to 0.7% in the short term."

He added, "It is still too early to determine how the new tariffs will affect consumption patterns, but some consumers considering major purchases are likely to reconsider their spending habits."

Meanwhile, in the U.S., soaring egg prices are adding to consumers' inflation woes. According to the Associated Press, the average price of a dozen (12) Grade A eggs in U.S. cities reached $4.95 in January. This surpasses the previous record high of $4.82 set two years ago. Compared to the lowest price recorded in August 2023 ($2.04), the price has more than doubled.

The spike in egg prices is due to an infectious disease. According to CBS News, since the outbreak of avian influenza in the U.S. in 2022, 148 million poultry, including chickens and ducks, have been culled. The U.S. Department of Agriculture reported that 13.2 million laying hens were culled in December last year alone, and the spread continued into January this year. In addition to the price surge, some regions in the U.S. are experiencing egg shortages in grocery stores. Kevin Hassett, chairman of the White House National Economic Council (NEC), announced on the 16th (local time) during CBS's 'Face the Nation' that Agriculture Secretary Brook Rollins plans to submit a response plan for avian influenza to President Trump next week.

This content was produced with the assistance of AI translation services.