1. Increase the household expenditure of residents, especially low-income residents. Food is a necessity of life, and its consumption elasticity is small, and its substitution effect is not obvious. Whether the price goes up or not, we have to spend. Therefore, the price of daily necessities has risen, the consumption expenditure of urban and rural residents has increased, consumption has declined, and the quality of life has declined.

2, resulting in a decline in the real income of low-income groups. Since last year, due to the sharp rise in food prices, the increase in low-income standards or wages and benefits of low-income groups has been partially or even completely offset, which means that the actual income of most low-income groups has decreased, and the number of goods they can buy has decreased accordingly, and the family life of some low-income groups has fallen into a more difficult situation.

3. Rising prices have restrained residents' desire to buy, and consumption has declined. The consumption demand of residents is limited, and the pace of life improvement is higher than that. In order to minimize the pressure of life caused by rising prices, we have to reduce the consumption level. Mainly manifested in buying cheap and inferior goods or changing lifestyle to meet basic living needs. The purchase of durable consumer goods dropped significantly.

Rising prices have caused many low-and middle-income families to change their consumption patterns, forcing them to reduce their consumption level and save money by buying cheap and inferior goods. If you eat less meat, try to buy special meat, rice, vegetables, milk and other foods in the supermarket, or go to the vegetable wholesale market to approve vegetables. Low-income families, unable to increase other sources of income, can only reduce consumption and consumption varieties, limit consumption to the most basic consumer goods such as rice, flour, oil, vegetables and meat, and reduce consumer goods such as meat, poultry and vegetables with large price increases.

5. It has a great impact on low-income residents. Increased the economic burden of low-income groups. The income of low-income families is low, and food expenditure accounts for a large proportion of consumption expenditure. The rapid rise in the prices of consumer goods, especially food, has increased their economic burden, thus adjusting the household consumption structure, reducing the consumption of meat, eggs, poultry and other foods, and lowering the quality and level of life.

6. Low-income residents' consumption upgrade is slow. Low income restricts the improvement of residents' consumption level and the upgrading of consumption structure.