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"eating into" is correct and usable in written English.
It often means to reduce, diminish, or deplete something, usually resources or time. For example: The financial crisis has been eating into the company's profits.
Exact(56)
And erratic weather began eating into yields.
Facebook is eating into Google's advertising revenue.
He's eating into Cochrane's advantage slowly.
Rising food and gas bills are eating into profits.
"The kitchen ends up eating into the living-room space.
Higher taxes are already eating into living standards.
Research suggests that they are eating into Amtrak's market share.
Similar(4)
That eats into incomes.
This eats into profits.
Delays eat into servicers' margins.
But the discounts have eaten into earnings.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com