Tag: CPI

Grocery costs stable in May but still higher than 3 years ago

The good news is that inflation, and the increases seen in food prices the past three years, are moderating. The bad news, those food prices are still 20% higher overall than they were three years ago.

Everything you buy should be a deal or a sale, check this receipt of mine to see the savings.

Grocery prices were unchanged in May compared with April, according to Consumer Price Index information released for May recently.

“Wednesday’s report indicated that consumers are beginning to get some relief from the price spikes of the past three years. Grocery costs were unchanged, on average, from April to May, after actually falling 0.2% the previous month. Food prices have risen just 1% over the past 12 months, though they’re still up about 20% from three years ago,” reports Associated Press.

Smart shopping can cut your food bills, always be on the lookout for digital deals and other possible savings when you plan your weekly food shopping trips.

Producers won’t cut prices unless demand drops dramatically, so it’s up to you to manage your budget and find the deals.

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Food inflation is easing; smart shopping can help even more

These Covid shopping lines are gone, and food prices are coming down as a result.

Food prices are easing, albeit from a high rate of inflation last year, according to the recent report on the Consumer Price Index for food at home.

You can bring your costs down even more by always pre-planning shopping trips and taking advantage of sales.

This week, for example, I saved 55% of my purchase price during my weekly shopping trip to a local Jewel by using digital coupons and stocking up on sale items.

“On a year-over-year basis, the CPI for food at home is up 7.1%, which is elevated over the norm but down from the 11.3% rate in the opening month of 2023. Within the grocery sector, shoppers encountered lower prices across several categories: Bureau of Labor Statistics reports that four of the six major grocery store indexes posted decreases in April,” reports Progressive Grocer, an industry trade magazine.

“The CPI for dairy and related products fell the most (-0.7%) last month, while the index for fruits and vegetables went down by 0.5%, the price of meat, poultry, fish and eggs slipped 0.3% and nonalcoholic beverage prices saw a slight 0.1% downturn. The CPI for cereals and bakery and for “other” food at home both increased 0.2% in April,” PG reports.

So take heart, the worst of inflation is over. Be a smart shopper and drive it down even more.

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