Grocery Costs Expected To Keep Rising in 2024: 8 Creative Ways To Cope With Food Inflation
Even though inflation has eased somewhat, it’s still high. Case in point: The last time it cost this much to buy groceries was over 30 years ago, in 1991, according to the Wall Street Journal.
The good news is that food prices are slowing. In 2024, the Economic Research Service of the U.S. Department of Agriculture predicts a 2.9% increase in food prices overall, with only a 1.9% increase for food at home. To compare, in 2023, food prices increased 5.8% overall, with a 5% increase for food at home.
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However, if you’re waiting for grocery prices to get back to normal, don’t hold your breath. Dawn Thilmany, an agricultural economist and professor at Colorado State University, told the Washington Post in a recent interview that with the exception of a few items — like eggs — grocery prices are not going to return to “normal.” Instead, Thilmany said that consumers will see prices stabilize, but that’s likely it.
With that in mind, here are eight creative ways to deal with food inflation.
Think Beyond the Grocery Store
Trae Bodge, smart-shopping expert at TrueTrae, said that you can find budget-friendly groceries at other places besides the grocery store. She suggested Target and CVS because they have robust loyalty programs and frequent sales.
“Also, don’t ignore the dollar store,” Bodge said. “Stores like Dollar General now stock affordable fresh produce in select locations as well as their own store-branded items at low prices.”
Use an App Like Flashfood
“Flashfood partners with grocers around the country and helps them sell through their merchandise that is nearing the ‘best by’ date or is in surplus by offering up to 50% off the retail price,” explained Bodge. “You shop through the Flashfood app and then pick up your order at the grocer.”
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Leverage Credit Card Rewards
Bodge said that how you choose to pay can really make a difference and help you save.
“Check what kind of cash back your credit cards are offering,” she said. “If your cards do not have cash back for food purchases, consider switching to one that does, like the Bread Cashback American Express, which allows you to earn 2% back on everything you buy. That’s 2% you didn’t have before!”
Make Your Own
If there are certain items you’ve had to eliminate from your shopping list because they no longer fit your budget, Bodge said to consider making those items at home instead of buying them premade.
“Things like hummus and granola can be expensive at the store,” she said, “but they can be made at home fairly easily for a fraction of the cost.”
Try Reverse Meal Planning
“Meal planning is essential to reduce food waste, but instead of picking recipes first, and then trying to save on the ingredients you need to cook those meals, try to do it in reverse and create a meal plan based on the foods that are already on sale,” said Andrea Woroch, consumer and money-saving expert at Andrea Woroch.
Woroch explained that reverse meal planning is when you preview circulars for your local stores to see which ingredients are on sale. Then, you plan your meals around the deals.
“Review local grocery ads using an app like Flipp, which aggregates circulars based on your ZIP code to help you come up with a healthy meal plan based on the best deals nearby,” said Woroch. “Then enter those ingredients in the CookList app to come up with creative recipes your family will love.”
Look for Manager Markdowns
“Another tip — look for manager markdowns which are fresh foods nearing their expiration date for up to 70% while you’re at the store and then figure out which meals to make based off those discounted main ingredients,” Woroch said.
Buy Ugly Produce
“You can save up to 30% off funny-looking fruits and vegetables that never make it to the grocery store thanks to their unappealing appearance through Misfit Markets,” said Woroch.
Get To Know the ‘Clean 15’
Woroch also said if you’re in the habit of only buying organic produce, which is typically at a higher price point, you should get to know the “Clean 15.”
“This list refers to 15 fruits and vegetables that are perfectly safe to consume in the non-organic version thanks to their tough inedible peels, according to the EWG,” she explained.
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This article originally appeared on GOBankingRates.com: Grocery Costs Expected To Keep Rising in 2024: 8 Creative Ways To Cope With Food Inflation
