Inflation has led to price surges at grocery stores, car dealerships and even dine-in restaurants nationwide. A new study finds it’s also the main motive behind another recent surge: shoplifting.
More than 20% of Americans have admitted to stealing items from stores within the past year or so, according to a new survey from personal finance website LendingTree, which polled 2,000 U.S. consumers from ages 18 to 78.
Of those who admitted to recent retail theft, roughly 90% of them said they did so because of inflation and the current economy. Specific reasons included, prices becoming otherwise unaffordable (34%), helping make ends meet (30%) and helping save a few bucks (27%).
“Lots of people are struggling in the face of still-rising prices, and they’re going to somewhat desperate measures to help them get by,” LendingTree chief credit analyst Matt Schulz said in a statement. “With inflation stubbornly sticking around, that’s not likely to change soon.”
LendingTree’s survey follows a recent report from the Council on Criminal Justice, which found that shoplifting rose 24% in the first six months in 2024, even as reports of other crimes have gone down.
Read more at CBSnews.com
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