Are avocados the only thing that is getting more expensive at your local grocery as families plan for Thanksgiving? Yes, you can, but it’s important to be careful.
High inflation means that 90% of groceries are now more expensive than last year. However, there are still some bargains available, but you will need to search for them. Nielsen IQ, a market research company, recently analyzed more than 2,500 packaged and fresh foods to identify bargains.
Most consumers find price cuts on groceries to be a welcome relief, as store food prices have risen 12.4% in October compared to a year ago. The extra cost of food can be especially difficult to swallow for shoppers with fixed budgets.
What’s the best way to make it cheaper?
The average unit price of prepared mixed vegetables in fresh produce fell 68% from the previous year’s same period. The average unit price for fruits is down 1.8% in tangerines, and it has fallen 7% for dates over the same three-month period.
Assorted bagels, a packaged bakery product, fell by 48%. Prices for bakery sweets like fruit cobbler or honey buns are also falling.
Bulk dried beans prices are 5.1% lower elsewhere. The prices of apple sauce and cranberry juice have also fallen. Kombucha beverages have seen a 22.7% drop in prices.
Many fresh seafood options are also cheaper: The average unit price of striped bass dropped 41.8% from July to September over the previous year. The cost of lobster has fallen 7.2%, mackerel prices dropped 6%, crab prices have fallen 9.5% and conch prices are down 13.2%.
Stew Leonard Jr. is the CEO of Stew Leonard’s supermarket chain. He stated
Wednesday that he noticed a decrease in prices for some meats like chicken and beef.
“You are not only seeing an increase in turkey prices, but also a slight decrease in chicken. He said that our filet mignon will be $2 per pound lower than last year.
“Meat prices are decreasing, but chicken prices are increasing. Lobster, which was a hot commodity last year, is now half-off. He said that pricing is starting to slow down a bit.
According to Carman Allison (Vice President of Consumer Intelligences for NielsenIQ), grocery spending will rise as more people eat out less and cook at home more often to reduce their discretionary spending.
Allison stated that there is a larger shift taking place: budget shoppers fundamentally change how and where they purchase food. They are moving away from buying brand-name products and choosing private-label options that cost less. To score better deals, they are shifting to discount and value food shopping.
Most consumers don’t buy in bulk. He said that if a family uses a lot of an item, they’ll buy more. They will choose smaller sizes if they have a smaller family or want to try new foods.
When shoppers are trying to reduce their grocery spending, they will gravitate toward items that have a higher yield, such as dried beans, rice, and pasta. These items can provide many servings. Another example is a can of soup. He said that you can add more water to make it more filling.