3 tips for stretching your dollar at the grocery store
CBSN
Even with the passage of the Inflation Reduction Act, consumer prices continue to rise at nearly the fastest pace in 40 years.
Perhaps nowhere is the impact of searing inflation more acutely felt than in the grocery aisle, where the cost of staples like eggs, milk, flour and chicken are eating into household budgets. Food at home — or meals prepared from grocery purchases — rose 1.3% last month, with all major grocery store categories seeing price jumps, the Labor Department reported last week. Egg prices are up a whopping 38% from a year ago, while other items seeing double-digit increases include flour (23%), butter (22%) and coffee (20%) government data show.
Despite those price hikes, Americans are spending more money on groceries than last year, according to LendingTree. Households spent an average of $408 a week on food in last month, up from $318 in May 2021. Residents of Delaware, Montana and Vermont saw the largest increases in their grocery bills, LendingTree found.
