US Shoplifting Rates Soar Amid Worsening Economic Strains

A growing share of Americans are resorting to shoplifting due to financial strain from inflation. According to an annual survey by LendingTree, 30% of respondents admitted to shoplifting this year, up from 24% last year.

Nearly 90% of those who admitted to shoplifting cited affordability concerns and struggles with the broader economy as the reason for their thefts.

Inflation has been above the Federal Reserve's target of 2% for over five consecutive years, raising the price of most household necessities and squeezing budgets. Oil prices have climbed back above $100 a barrel due to the war in Iran, pushing the cost of gasoline higher and escalating inflation pressures.