And experts don’t expect it to slow down anytime soon. To adapt your budget to this trend, you should look for ways to save on trips to the grocery store. If you don’t, you could overspend and may need a payday loan to cover your monthly expenses if you’re not careful.
According to the Department of Agriculture’s Change in Food Price Index, overall prices in April rose 4 percent from the previous month. While this is only a marginal change, the index also indicated that prices were up 3.1 percent from a year earlier. Two areas in particular showed major spikes.
Cost Of Meat Rising
Some of the largest annual increases were among meat products. Specifically, the average price of beef rose 5.9 percent, while the price of pork surged 3 percent. In addition, the cost of poultry spiked 6.1 percent. Since these products are staples for many households, these increases can quickly add up.
Dairy Price Tag Growing
Meanwhile, the average price of dairy increased 3.4 percent in April from a year earlier, the index found. This includes milk, cheese, ice cream and butter. However, the price of milk is expected to stabilize during the course of 2019, which could have a positive effect on the cost of all dairy products.
To help compensate for the rising price of food, there are a number of ways to save at the grocery store.
Plan Your Spending
Instead of hitting the grocery store unprepared, try to have a plan of action. This can prevent you from overspending by making impulse purchases. Get to the store with a prepared list and make sure to stick to it.
Additionally, familiarize yourself with the price of certain goods at different stores in your area. If one store sells certain products significantly cheaper than the other, it could be worthwhile to shop at multiple locations.
Buy Generic And Use Coupons
Most major grocery stores provide their own generic brands of popular items. These goods are often far more affordable. If you are a loyal customer to a certain brand, try out its generic alternative. You might just like it.
Utilizing coupons is another great way to save on your trip to the grocery store. You can find discounts in in-store displays, as well as online or in weekly papers. Take some extra time to hunt down these discounts, as it could save your hundreds of dollars over time.