From Longman Dictionary of Contemporary Englisheat into something phrasal verb1 REDUCEto gradually reduce the amount of time, money etc that is available John’s university fees have been eating into our savings.2 DAMAGEDESTROYto gradually damage or destroy something Acid eats into the metal, damaging its surface. → eat→ See Verb table
Examples from the Corpus
eat into • This they frequently do, eating into, and more often devouring, the commissions they receive from the issuer.• At least one indicator suggested interest rates may be headed still higher, which could eventually eat into corporate profits.• Ruth's mind seemed to be changing and collapsing with these wonders; and the underground cold ate into her.• Nomatterhow hard the Provincial champions tried to eat into the massive margin the worse it became for them.• Bitterness ate into the soul and at last her soul was clearing, calming.• A weaker economy means inflation is less likely to eat into the value of bonds' interest and principal payments.• A cool economy keeps inflation from eating into the value of fixed - income securities.• Meanwhile, inflation spurred by the devaluation ate into workers' paychecks. 