It’s likely costing you more and more to put food on the table nowadays, but you might soon catch a break.
WINK News consumer reporter Andryanna Sheppard has been tracking the prices of the same 10 items at local grocery stores for months now. The items include things like Honey-Nut Cheerios, Bread, and Eggs. We returned to the same Publix, Walmart, and Target each time to compare.
Yesterday’s price is not today’s price, and tomorrow’s prices will more than likely keep going up.
Consumers paid seven percent more in December 2021 than the year prior. That’s the highest inflation rate in 40 years.
But FGCU economist Victor Claar, Ph.D. says there’s hope. “The rates of increase in the forecast seem to be getting smaller and smaller so economists forecast an increase but at least it was an increase that wasn’t rising as rapidly as it has over the last several months.”
One of the most obvious places you’ve likely seen the prices go up is the grocery store.
Most products have steadily increased since we started a monthly spreadsheet, but they’ve soared at all three stores this month compared to last – if the products were on the shelf.
18 eggs at Target cost .40 cents more now than it did exactly a month ago, coming in at almost $2.80.
Honey-Nut Cheerios jumped from $2.82 to nearly $4.
Nature’s Own butter bread at Publix was $3.44. Costing you .10 cents more a loaf.
The omicron COVID-19 variant shares part of the blame.
“If you’ve got covid in most places of work you have to call in sick and you have to self-quarantine and that doesn’t help the pressures that we’ve seen along the supply chain,” Claar explained. Which causes more bottlenecks along the supply chain and more strain on your wallets.
We can’t control the prices at the store but there are still some ways to keep some more of your money in your wallet.
Take a look at your credit cards. Some offer as much as five percent cash-back on groceries. But if you don’t pay it off, you’ll end up paying more in interest.
Consider downloading cash-back apps like I-botta. You upload your receipt and get money. And of course, don’t be afraid to use coupons.
You can combine all of these money-saving methods for ultimate savings.